Pittsboro, NC: Biolex Therapeutics, a privately held biopharmaceutical company, announced today the closing of a $30 million Series C financing. The financing was led by Investor Growth Capital of New York and included the participation of two other new investors, JP Morgan Securities, Inc. and Easton Capital. The financing was oversubscribed and included strong participation from existing shareholders including Quaker BioVentures, Polaris Venture Partners, Intersouth Partners, Mitsui & Co. Venture Partners, Johnson & Johnson Development Corporation and Dow Venture Capital. The funds will be used primarily to advance Biolex’s lead drug candidate Locteron™ into Phase 3 clinical development in hepatitis C, and to advance the Company’s other drug candidates.

Biolex is a former SEBIO Presenting Company.
http://www.biolex.com/pdfs/Biolex%20-%20Series%20C%20Press%20Release%20-%20May%2024,%202007.pdf