Biolex Raises $30 Million

Biolex Therapeutics, a Pittsboro, N.C.-based drug company whose lead candidate focuses on hepatitis C, has raised $30 million in Series C funding. Investor Growth Capital led the deal, and was joined by JP Morgan Securities, Easton Capital and return backers Quaker BioVentures, Polaris Venture Partners, Intersouth Partners, Mitsui & Co. Venture Partners, Johnson & Johnson Development Corp. and Dow Venture Capital. Biolex has raised nearly $100 million in total VC funding since its 1997 inception, including a venture recap. In 2005, it raised a $36 million Series B round at a post-money valuation of just over $81 million.