Oklahoma Pharmaceutical Company Secures Seed Money, Grants for Drug Development

Article excerpt

Selexys Pharmaceuticals recently secured $3.5 million in venture capital seed money and an equal amount in grants, including the largest Small Business Innovation Research grant ever to an Oklahoma company, Chief Executive Scott Rollins said Monday.

And a lot of that money came from within the medical industry for a change, he said.

Typically a lot of early-stage funding in these ventures comes from the oil and gas industry," he said. "But what's unique about our efforts is that so much of our money came from private physicians, a pretty unusual group of angel investors and something that's been relatively untapped around here.

"We tried to target investors who were very well educated about the kinds of drugs that we're developing and the science and medicine behind those drugs. We met with groups of docs around Oklahoma City and Norman, and once they heard about the science and our programs, they were very excited about the prospects and wanted to invest," he said. "It was a reasonably easy sell."

Selexys is an Oklahoma City-based biopharmaceutical company focused on the development of antibody therapeutics for the treatment of inflammatory diseases. The company has generated highly specific inhibiting agents and is rapidly moving toward the human clinical trial stage for the treatment of Crohn's disease and sickle cell disease. …


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