Dr. Clay Siegall currently serves as the President, CEO and Chairman of the Board of Directors for Seattle Genetics. Dr. Siegall co-founded Seattle Genetics, a company that develops antibody-based cancer therapies. He is the author of over 70 publications as well as hold 15 patents.
Inspirey interviewed Dr. Clay Siegall, a Seattle-based expert in drug therapies, as part of Inspirey’s “Exclusive Interviews With Entrepreneurs & Executives.”
Dr. Clay Siegall shares how he got started in the business. Medicine and the idea of course correcting fate to restore health has always appealed to Dr. Siegall. When experience a close connection of a family member going through treatment of cancer is what particularly sparked his interest in cancer therapy. Dr. Siegall also wanted to gain freedom autonomy by being his own boss.
Dr. Clay Siegall explains that Seattle Genetics makes money through two ways. The company sells their own drugs. They also receive revenues from partnerships, licensing of technologies and methods that Seattle Genetics have exclusively established. Dr. Siegall admits to Inspirey that he truly had doubts and financial threats while the company didn’t become profitable until 10 years after IPO. Seattle Genetics had gained their first customer through selling.
Dr. Clay Siegall set up the sales team for success by having a unique and high-quality product while equipping his salespeople with the right knowledge by ensuring each person hired had a biotech background. The marketing strategy Dr. Siegall and his team use to gain new clients is to wine and dine them. Each deal is worth seven or eight figures, therefore a lot of developing relationships with potential clients involves meetings and negotiations.
Dr. Clay Siegall lastly attributes his success to his work ethic. He believes that through intense work and incredible focus, that these work ethic habits are what ultimately separates the successful from the unsuccessful.