Company Overview

We are a clinical-stage biopharmaceutical company that uses our patented LEX System^SM to develop hard-to-make therapeutic proteins and monoclonal antibodies that have been optimized to enhance their efficacy and potency. The LEX System is a novel technology that genetically transforms the aquatic plant Lemna to enable the production of biologic product candidates.

Our proprietary product candidates are designed to provide superior efficacy/tolerability profiles and to address large, proven pharmaceutical markets.

Our lead product candidate, Locteron, is in Phase 2 clinical trials and is the only controlled-release interferon alfa known to us to be currently in active clinical development for the treatment of chronic hepatitis C. Locteron is designed to improve upon the current standard of patient care, interferon alfa administered weekly in combination with the antiviral drug ribavirin, which is associated with significant side effects. In a 32-patient Phase 2a clinical trial of Locteron administered once every two weeks in combination with ribavirin, an early virologic response (EVR) was achieved by 100% (16/16) of hepatitis C patients treated with the two highest doses , the 480 and 640 microgram, or µg, doses. Achievement of EVR, which is a specified reduction in viral load, has been broadly established to be a prerequisite for long-term response in hepatitis C patients.

In addition, reported side effects were fewer and less severe than previously reported with other interferon products currently marketed or in development.

We have also developed two other product candidates that capitalize on the benefits of the LEX System, which we are advancing toward clinical trials: BLX-155, a thrombolytic, or clot buster, designed to directly dissolve blood clots in patients; and BLX-301, an antibody we are optimizing for the treatment of non-Hodgkin’s B-cell lymphoma. BLX-301 is designed to bind to the CD20 molecule produced by B-cells.

We believe that all of our product candidates have reduced clinical and regulatory risk profiles because they are based on well-understood proteins with proven mechanisms of action or clinical validation, and well-established regulatory pathways.

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