Stephen Hess: As you think about the fundraising environment and where we are today versus where we were just 10 months ago when everything pulled back in, how are you seeing capital being deployed in the diagnostics space?
Steve Lufkin: It’s a great question. We’ve been very fortunate that we’ve been supported both by private equity capital and with RA Capital and Schooner and Northpond and Sands Ventures, and along with public money through BARDA (Biomedical Advanced Research and Development Authority). So we’ve been very fortunate so far and as we go forward.
And if you look at when the COVID crisis started, I think the immediate reaction was – everybody circled the troops. How do you manage cash? Nobody knew where this was going to end and everybody was in a state of fear. And rightfully so, because it’s something that we didn’t understand and I think we’re still trying to understand. And I think that once people got over that hump and understood what we were facing, I think people settled into a better visibility of the future.
Now, with that said, I think one of the other things that’s been very positive for the diagnostics space specifically is that people are realizing how important diagnostic testing is in the treatment of disease. And I think that has resonated with a lot of investors that may have been a little bit on the outside.
And I think the last piece is that frankly, the diagnostic industry has been very profitable through COVID. And those that have been in the COVID space have done very, very well, and those that have adapted to it have done very, very well. So there’s some very strong balance sheets. And it’ll be interesting to see where the strategics choose to place their capital going forward.
Stephen Hess: Steve, if people want to get in touch with you or learn more about Selux, where can they find you?
Steve Lufkin: They can go to our website, seluxdx.com.
Stephen Hess: And finally, for 2021, what one word or phrase would you use to describe your outlook?
Steve Lufkin: Optimistic.
Stephen Hess: I am too. That’s the Tea, Steve. Thanks so much for joining me today. And as always, I love hearing your perspective and view of the industry, as well as Selux’s view on this new world we’re in. Thanks so much.