Biolex Therapeutics of Pittsboro, North Carolina, has rounded up $36 million in its second round of venture capital. Polaris Venture Partners led the round. Much of the money will go to develop its lead drug candidates. Locteron, a controlled-release formulation of recombinant human alfa interferon, is expected to enter Phase I clinical trials later this year.
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PLUS: San Diego-based TargeGen has raised $30 million in its third round. TargeGen is developing small molecule kinase inhibitors for the treatment of edema and angiogenesis related diseases. Release