Category Archives: Drug Development

Siegall Hoping to Lead Seattle Genetics to New Ground

Though Seattle Genetics has been around since 1998, current founder and company CEO Clay Siegall is looking to bring the biotech company to new heights.

Nearly two decades ago, Siegall started Seattle Genetics after spending his early career at the National Institutes of Health and the National Cancer Institute. He also worked at Bristol-Meyers for six years before branching out on his own with Seattle Genetics. He earned a Bachelor’s Degree in Zoology at the University of Maryland and then eventually got his doctorate in Genetics at George Washington University.

While he started Seattle Genetics privately, eventually the company offered public stock by 2001 and has since been traded on the NASDAQ exchange.

Over the years, Seattle Genetics has built up a strong list of achievements out of their headquarters in the suburbs of Seattle. In particular, Seattle Genetics has become a leader within the biopharmaceutical company with their antibody-drug conjugates which helps in the fight against cancer. Adcetris is its most famous product, gaining approval in the U.S., Europe, Canada, and Japan, and it helps treat Hodgkin lymphoma.

Last year, Seattle Genetics registered sales of $418 million. Despite still being red within the profit margins, the company has experienced nearly 50 percent growth over the past two years.

However, Siegall is trying to lead Seattle Genetics to even more prosperity. Some wonder if they could be a target to be bought out by competitors, but Siegall is focused on the near future. The company has many potential products coming out with, in Siegall’s estimation, at least four which could become major revenue generators.

Looking after Seattle Genetics isn’t the only thing that Siegall is involved with when it comes to the biotech industry. He also serves as a board member on Ultragenyx Pharmaceutical Inc. and Alder Biopharmaceuticals Inc. Regardless of where he is at, Siegall figures to remain a key figure in the biotech industry within the Pacific Northwest as long as Seattle Genetics continues to grow as a company.