Clay Siegall is the president and CEO of Seattle Genetics. The biotech firm is based in Seattle. It develops therapeutic drugs for a broad range of diseases. Siegall gave an interview on Inspirery where he talked about the history of the company and its business model. He said that he was inspired to get into medicine when he saw the suffering that a family member went through. The treatment regimen was very crude. It had adverse effects on the health of the patient. Siegall decided to go into medicine to try and find a better way.
Clay Siegall decided to start Seattle Genetics because of the constraints that were set at his previous job. Siegall had access to limited funds. He had little autonomy even though he was a senior researcher. The company owned all the patents and profits. Siegall thought that this was discriminatory. This enabled him to think of becoming his boss and having more ownership of his work. Siegall mentioned a few ways in which the company makes money. Its main source of income comes from the sale of its drugs. They have had exclusivity on ADCetris. This is the first antibody-drug conjugate to be approved by the FDA.
Seattle Genetics has also partnered with other pharmaceutical companies. They earn revenue by licensing their processes and the technologies that they have developed. Siegall said that Seattle Genetics became a profitable venture ten years after they went public. The early days of the company were the hardest because of the depletion of their operating capital. He stated that they were able to pull through by working hard.
Dr. Siegall studied at the University of Maryland where he graduated with a degree in Zoology. He went on to join George Washington University where he earned a Ph.D. in Genetics. Siegall co-founded the company in 1998. He has played a huge role in its success. Siegall is the chief executive officer of the company. He is responsible for making sure that the firm meets its objectives. Siegall was involved in the capital raising processes and led the firm to a successful Initial Public Offering.
Logan is a renowned philanthropist and best-selling author. Over the years, Stout has generated billions of dollars from his businesses and his talent. He has extensive experience in team-building and leadership. Today, he ranks as one of the leading key note speakers in the globe. Logan has been helping people to build transformative leadership skills. He is the brain behind, “Stout Advice: The Secrets to Building Yourself, People, and Team,” a book published in 2013. This book seeks to inspire and empower readers to strive to reach their God given potentials. Notably, the book was endorsed by renowned personalities, including Daymond John and Barbara Corcoran from ABC’s Shark Tank.
Over the years, Logan has partnered with different leaders to enhance personal training and leadership to over 190 countries. As a professional baseball athlete, he participated in 17 World Series as a coach and player. Stout is an alumnus of the esteemed University of Dallas where he graduated with a degree in psychology. He also holds a business degree from Panola. After completing his studies, he played baseball for the Fort Worth Cats.
Logan is married to Haley. They have two sons. Stout and Haley are the founders of the Youth Athletes Foundation. They are affiliated with the American Heart Association of North Texas. In addition, they are the honorary chairs and patrons of the Boys and Girls Club of Collin County.
This corporation was founded on the basis of personalized fitness and nutrition. IDLife offers a wide range of products that caters to each individual’s unique heath needs. Each person has his or her own physical strengths and weaknesses. The ID in the company’s name stands for “Individually Designed.” This is because the entity’s products are tailored to the needs of each person based on eating habits, sex, medical conditions, sun exposure, exercise, prescription medications and age.
IDLife uses a network marketing model. This means that the company’s products are directly sourced from manufacturers and taken to consumers without passing through expensive advertising campaigns, retailers or wholesalers. The independent representatives recommend products to people that they know and keep the profit margins. The company pays its members 30 percent of the retail price from their own customers. They also provide them with 10-level comp plan starting with a five percent over-ride on the down line levels.
Find more about IDLife at https://www.inc.com/profile/idlife