CHAPEL HILL, NC—Biolex Therapeutics, a company developing hard-to-make proteins and optimized monoclonal antibodies via the aquatic Lemna plant, has secured a $10.5 million loan from Silicon Valley Bank and Oxford Finance Corp.

The company says it will use the capital to help fund its pipeline of therapeutic candidates.

Biolex raised more than $100 million in venture funding since its founding in 1997.

It filed for an $80 million initial public offering of stock last year, but withdrew the IPO registration in February, citing “unfavorable market conditions.”

Investors include Intersouth Partners, Johnson & Johnson Development Corp., Quaker Bioventures, Polaris Venture Partners, Investor Growth Capital, Mitusi & Co. Venture Partners, JP Morgan Securites, Easton Capital, and Dow Venture Capital. Intersouth holds the largest stake with slightly more than 20 percent.

Biolex is a clinical-stage biopharmaceutical company that uses its patented LEX System to develop hard-to-make therapeutic proteins and to optimize monoclonal antibodies.

The LEX System is a novel technology that genetically transforms the aquatic plant Lemna (commonly known as Duckweed) to enable the production of biologic product candidates.

The company’s product candidates are designed to provide superior efficacy/tolerability profiles and to address large, proven pharmaceutical markets.

Biolex’s lead product candidate, Locteron, is in Phase 2 clinical trials and is the only controlled-release interferon alfa for the treatment of chronic hepatitis C.

On the Web: www.biolex.com

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