Something like this might work: 

my $parts = [ split /[^\\]`|^`/, $string ];

my $count = 0;
foreach my $part (@$parts) {
  $count++;
  next if ($count %2);  # only substitute on odd number array items
  $part =~ s/</&lt;/g;
}

my $new_string = join '`', @$parts;

[download]

Still seems lame, but I guess it works. Any other suggestions?

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In reply to Re: Replacing left angle bracket with HTML entity when between two backtick characters by nysus
in thread Replacing left angle bracket with HTML entity when between two backtick characters by nysus

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