Turbulent market forces Biolex to scrap IPO

The turbulent stock market has claimed another biotech victim. Biolex Therapeutics says it is dropping its bid to go public, the result of some lethal market rip tides that have already spurred more than a dozen companies to surrender their IPOs. Biolex and OctoPlus have been pushing the development of Locteron, an experimental therapy for hepatitis C.

- here's the report from the Charlotte Observer