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

NEWS 2006

[11/15/2006]

Biolex Therapeutics Honored By NCTA As Top Venture Company Of The Year

PITTSBORO, NORTH CAROLINA, November 15, 2006 - Biolex Therapeutics, a protein therapeutics company, today announced that it was recognized as the Top Venture Company of the year by the North Carolina Technology Association (NCTA) at its annual NCTA 21 Awards gala last Thursday. The awards program annually honors companies and individuals from North Carolina's technology industry for excellence in leadership and innovation. More than 500 industry executives and thought leaders attended the event which celebrated its 12th year.

"Biolex is honored to receive this award, and to be recognized for the accomplishments achieved in the past year," said Chris Hegele, Chairman of Biolex Therapeutics and Partner at Intersouth Partners, a major shareholder of Biolex. "During 2006 Biolex successfully initiated human clinical trials for its lead product, Locteron?, a best-in-class controlled- release interferon product for the treatment of hepatitis C. In parallel, Biolex has bioengineered its patented LEX SystemSM to create next-generation therapeutic antibodies, arguably the hottest area in biotechnology, with enhanced potency and efficacy along with an unprecedented degree of precision and consistency in their production. Biolex will employ this revolutionary technology to support its own development programs as well as the programs of its strategic partners."

"The 2006 NCTA 21 awards have been by far our most competitive with an outstanding list of finalists and a group of award recipients who distinguished themselves through outstanding achievement and superior performance," said Joan Myers, president and chief executive officer of NCTA. "I congratulate Biolex for earning an NCTA 21 award and their passion to lead, innovate and create."

About NCTA

The North Carolina Technology Association (NCTA) is a not-for-profit membership-driven trade organization and the primary voice of the information technology industry in North Carolina. NCTA is the intersection of leadership and technology, fueling the growth of North Carolina through Executive Engagement, Public Affairs, and a Knowledge Workforce. For more information, visit www.nc-tech.org

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/

Contacts:

Media: Michelle Linn, Linnden Communications, 508-419-1555, linnmich@comcast.net
Investors: Dale Sander, Chief Financial Officer, 858-663-6993, dsander@biolex.com