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Article: Biolex Raises $30M In Series C To Advance Hepatitis C Drug.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Staff Writer
Awaiting data from an ongoing Phase II trial of Locteron, a controlled-release interferon-alpha candidate for hepatitis C, Biolex Therapeutics Inc. closed a $30 million Series C round to advance that compound into Phase III.
Funds from the oversubscribed round primarily will be invested in Locteron, which is finishing up a Phase II trial in combination with ribavirin in hepatitis C patients, though some money also will be used to support further development of other pipeline products, said Jan Turek, president and CEO of the Pittsboro, N.C.-based firm. Biolex creates its drug candidates based on its LEX System, an expression system designed ...