Clay Siegall’s leadership has made Seattle Genetics, Inc. the most dominant biotechnology firm in the Pacific Northwest. Some investors have been wondering if this means his company will be acquired by an even larger firm in the healthcare industry or if it will continue to grow on its own and attracting top talent.
Seattle Genetics is located in the Cascade Business Park of Bothell, Washington. It is located in a group of beige-colored buildings which seems rather nondescript from the outside. The first thing many people when entering this business is a large multi-colored sculpture which is representative of the human antibody. Since this company’s founding in 1998 human antibodies have been the primary focus of Seattle Genetics. They use them to research cures to diseases such as various forms of cancer.
Today, Seattle Genetics is has a market cap of about $10 billion. They employ about 900 people which makes them the largest company of its type in the state of Washington. People in the area are hoping it is not acquired by another, larger company, as they provide a lot of good paying jobs and are an asset to the economy. When Immunex of Seattle was acquired by Amgen, for instance, their Seattle offices were closed down and the jobs moved to Amgen’s headquarters.
Clay Siegall says that his company is now a global company that offers several products. It is also a company focused on oncology. He has been the chief executive officer since 2001 and the chairman and president since he co-founded this company in 1998. He says that Seattle Genetics has a large number of drugs under development which means he really has no plans to see his company acquired.
He graduated from the University of Maryland where he majored in biology. He developed an interest in curing cancer during this time which led to him attending The George Washington University in order to earn a Ph.D. in genetics. After graduating in 1988 he joined the National Cancer Institute which is a federal organization. He entered the private industry three years later when he became a senior researcher at Bristol-Myers Squibb Pharmaceutical Research Institute. It was upon accepting this job that he had first moved to the greater Seattle area and he now considers it his home. He owns the most expensive home in Snohomish County which he bought in Woodway, WA, in 2014.