• Biolex Therapeutics, of Pittsboro, N.C., withdrew its registration statement for an initial public offering, citing unfavorable market conditions. The company filed in August to raise $70 million in an IPO to support clinical trials with its controlled-release interferon alfa product for hepatitis C, as well as development of other optimized peptides and antibodies. (See BioWorld Today, Aug. 15, 2007.)

• Sinovac Biotech Ltd., of Beijing, closed its previously announced private placement of 2.5 million shares of common stock priced at $3.90 each, generating gross proceeds of $9.75 million. The shares were placed with Sansar Capital Management LLC. Sinovac develops vaccines for hepatitis A and B, influenza and other infectious diseases.