Biolex pockets $30M for drug discovery work

Pittsboro, NC-based Biolex Therapeutics has raised $30 million in its third round with Investor Growth Capital of New York leading the way. Much of that money will go to advancing Locteron into Phase III clinical development in hepatitis C. Sunny Sharma, M.D., vice president with Investor Growth Capital, has joined the Biolex board.

"We are pleased to be a part of the Biolex story, which has some very interesting product and platform attributes," said Sharma. "Locteron has the potential to be a best-in-class interferon for the treatment of hepatitis C. We are also very excited about the company's glycosylation optimization technology and its application in various product opportunities."

- here's the release for more information

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