In brief: Meditech, Psivida, Regenera, Mesoblast

Cancer biopharma Meditech Research (ASX:MTR) has been offered a AUD$2.98 million AusIndustry Commercial Ready Grant over the next three years towards the development and commercialisation of its lead anti-cancer product HyCAMP, which is in Phase II clinical testing.

Meanwhile, Robert Stewart has taken over as Meditech's chairman. Prof Richard Fox will remain as a non-executive director and will continue to advise the company on clinical development and medical issues.

Perth-based nanotech Psivida (ASX:PSD) has raised US$4.2 million before costs via the private placement of 650,000 on American Depository Receipts to predominantly US investors at US$6.50 each. Each ADR represents 10 ordinary shares.

Perth's Regenera (ASX:RGA) has received its first licensing payment of AUD$1.3 million from Alcon Manufacturing in accordance with an exclusive global license granted by Regenera to Alcon in April 2005. The license involves a steroid product that is used during ocular surgery. Adult stem cell company Mesoblast (ASX:MSB) has entered into an agreement with an unnamed medical device company which will provide carrier materials for use in Mesoblast's preclinical trials.