In the past two months, Scott Rollins raised $3.5 million in private seed capital for Selexys Pharmaceuticals, the Oklahoma City-based life science company for which he is chief executive officer.
Selexys closed on $2.5 million of the financing and expects to close on an additional $1 million at the end of the month.
Before the crash
The deals were made just ahead of the stock market meltdown that rivals the more famous crash of 1929.
"We’ve very fortunate,” Rollins said. "If I was going out today, starting today to raise that money, I think it would be a different world from what it would be even two months ago.”
Selexys won financing from the Oklahoma Seed Capital Fund and the Oklahoma Life Sciences Fund. But Rollins also raised money from Oklahoma energy executives, who have seen large declines in their stock values.
"Would they be willing to give me the several hundreds of thousands of dollars that they gave me two months ago?” Rollins asked.
"I don’t know. Even though the Oklahoma economy is doing very well compared to the rest of the nation, this meltdown has hit the energy companies hard.”
Rollins was among a group of about 200 technology-based professionals who participated in a networking event Thursday night at the Presbyterian Health Foundation Research Park.