Mitsui & Co. Global Investment (MGI) - Venture Capital, Start-Up

NEWS 2005

[03/31/2005]

Biolex Announces Broad Patent Covering Treatment Of Humans

PITTSBORO, NC, MARCH 31, 2005: Biolex, Inc., a privately held protein therapeutics company, today announced the issuance of a patent that broadly claims methods for immunizing a human or non-human animal against an antigen by administering an antibody produced by transgenic plants. This is the first patent ever awarded for the use of “plantibodies” (plant-made antibodies) to treat humans. Biolex now has exclusive rights to five U.S. patents in its Plantibodies portfolio, giving the company coverage for the production of antibodies in transgenic plants and their use to treat humans.

Therapeutic antibodies form the fastest growing segment of the pharmaceutical industry, with 17 currently approved in the United States. According to Datamonitor, the market is expected to more than triple in value between 2002 and 2008 from $5.4 billion to $16.7 billion.

The patent from the U.S. Patent and Trademark Office, number 6,852,319, is entitled, “Method of Use of Transgenic Plant Expressed Antibodies.” It was issued to The Scripps Research Institute, where the technology was developed, and exclusively licensed to Epicyte Pharmaceutical which was acquired by Biolex in 2004.

“The growing need for economical methods of producing monoclonal antibodies has led to the emergence of many alternative approaches for the expression of proteins. This patent adds to our already strong protection surrounding plant-based production of antibodies, and further supports our goal of becoming a leading protein therapeutics company,” said Jan Turek, President and CEO of Biolex. “Using our LEX System? we can efficiently produce large quantities of proteins in compliance with existing regulatory guidelines with much lower capital investment requirements than traditional approaches.”

About Biolex Therapeutics

Biolex Therapeutics is developing and commercializing therapeutic proteins based on the LEX SystemSM, its patented expression system that enables the production of hard-to-make proteins and the optimization of monoclonal antibodies.

The Company is developing a proprietary pipeline of products that rely upon known mechanisms of action to provide a reduced risk profile while targeting large, proven pharmaceutical markets. Biolex's lead clinical candidate, Locteron? is being developed as a best-in-class controlled-release interferon alfa for the treatment of hepatitis C.

The Company's second product candidate, BLX-155, is a direct-acting thrombolytic, designed to break up clots in certain diseases such as acute peripheral arterial disease, deep vein thrombosis and catheter occlusion. In addition, the unique capabilities of the LEX System have led to collaborations with Centocor, Medarex and other leading pharmaceutical/biotech companies.

Biolex is a venture capital-backed company located in the Research Triangle region of North Carolina, United States. For additional information, please visit Biolex's web site at http://www.biolex.com

http://www.biolex.com/

Contact:

Michelle Linn, Linnden Communications, 508-419-1555, linnmich@comcast.net.