A few financings and start-up updates to note…

Updates

• Biolex Therapeutics, which we profiled back in January, has started a Phase 2b trial of Locteron, a controlled release formulation of IFN alpha for the treatment of HCV. Locteron uses licensor OctoPlus’ controlled release drug delivery technology PolyActive(R) with Biolex’s IFN produced in Duckweed. [Genetic Engineering & Biotechnology News]

Financings

• Tissue protein analysis company Expression Pathology has closed a $6.5M financing led exclusively by Abraxis BioScience. The funds will be used to apply Expression Pathology’s patented Liquid Tissue proteomics technology in developing proprietary, personalized medicine clinical assays that relate measurement of protein biomarkers of drug response and disease prognosis to specific patient treatment decisions. [Yahoo!Finance]

• Mumbai-based Actis Biologics is seeking to raise a staggering $400M to expand across Asia. The company said it is already in discussions with a UK and a US-based fund to raise a first tranche of $250M. Actavis is a biotech venture technology firm that collaborates with scientists and life science entrepreneurs to setup biotech and pharma ventures throughout Asia. [VCCircle]

Image from mobot

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