The report of the Review of Australia's National Innovation System concludes that the country is falling behind the rest of the world and includes recommendations across a number of themes including innovation in business, strengthening people and skills, excellence in national research, information and market design, and taxation.

Full funding of university and public sector research should be re-established, innovation review recommends [ + ]

R&D tax credits, pre-seed grants, full funding of university research recommended [ + ]

Peplin to conduct Phase III trial of PEP005 under special protocol assessment [ + ]

Starpharma sells VivaGel condom marketing rights to Durex in potential $100m deal [ + ]

Two MPs with blemished records have been named to head NSW’s health and science portfolios [ + ]

Stakeholders take over control of stem cell centre [ + ]

The board of the Australian Stem Cell Centre (ASCC) is set to resign [ + ]

Investors inject $12 million in private biotech Spinifex [ + ]

Cytopia in Phase II trials of its vascular disrupting agent CYT997 in brain cancer [ + ]

BioGard is a supplemented bovine colostrum powder for immune system health [ + ]

The federal government has allocated  $239 million over five years to a a new Australian Laureate Fellowships scheme. Up to 15 Laureate Fellowships will be awarded every year. Each fellowship will be worth around $3 million over five years and will allow  the Fellow to work with, and mentor, up to four postdoctoral and postgraduate researchers.

Megan Clark named as new head of CSIRO [ + ]

Anadis obtains Israeli govt approval for mucositis trial protocol [ + ]

Dr Megan Clark will commence as the chief executive of CSIRO in January 2009 after Dr Geoff Garrett's term ends on 31 December this year.