Biolex Therapeutics - Top 20 VC deals of 2008

Company: Biolex Therapeutics
Based: Pittsboro, NC
Amount: $65M

Investors: Mitsui & Co. Venture Partners, Intersouth Partners, Kitty Hawk Capital, Clarus Ventures, Johnson & Johnson Development Corporation, Polaris Venture Partners, Undisclosed Firm, OrbiMed Advisors, Dow Chemical Company, Quaker BioVentures, Wakefield Group, Investor Growth Capital

Scoop: After dropping IPO plans, Biolex Therapeutics raised $60 million from investors in its fourth round. The North Carolina-based company uses its LEX SystemSM to develop hard-to-make therapeutic proteins and to optimize monoclonal antibodies. It's most advanced drug candidate is Locteron for hepatitis C. Biolex is using the money to prepare Locteron for Phase III trials and complete ongoing Phase II tests.