Pharmaceutical manufacturing and drug development company Institute of Drug Technology Australia (ASX:IDT) has reported an operating profit after tax of AUD$4.5 million for the year ended June 30, representing an increase of 5 per cent over the previous year. [ + ]

Melbourne-based Amrad (ASX:AML) and research partner Merck & Co have selected a lead therapeutic antibody for full preclinical development as a potential treatment for asthma and other types of respiratory disease. [ + ]

Resonance Health Analysis Services (RHAS), a subsidiary of Perth-based Resonance Health (ASX:RHT) and formerly known as Inner Vision Biometrics, has agreed to provide its FerriScan diagnostic test to the New England Research Institutes (NERI) for use in its clinical studies. [ + ]

Unlisted Adelaide-based firm TGR Biosciences has attracted up to AUD$3 million funding from venture capital firm Nanyang Ventures to further clinical development of its treatment for oral mucositis, a debilitating side-effect of cancer treatments. [ + ]

Researchers at the Walter and Eliza Hall Medical Research Australian and the University of California have developed one of the hottest prospective drug therapies for the paralysing neurodegenerative disorder multiple sclerosis (MS). [ + ]

Medical research in Queensland has won a jackpot, with unclaimed first division lotto prizes to be transformed into grants for research and equipment. [ + ]

Stirling Products' (ASX:STI) second study into the effects of its lead beta agonist growth promotion product ST810 in broiler chickens has shown positive preliminary results, according to the company. [ + ]

Peter Gage, an internationally recognised pioneer of the use of ion channels as a treatment for viral diseases, died on August 13 after a long illness. [ + ]

Adult stem cell company Mesoblast (ASX:MSB) has appointed Michael Spooner as full-time executive chairman until June 30 next year. [ + ]

Western Australian collagen purification company CollTech (ASX:CAU) has raised AUD$1.1 million by way of a private placement to institutional and professional investors. [ + ]

Cochlear (ASX:COH), the world's top maker of hearing implants, has turned around a poor performance from last year to record a net profit of AUD$54.52 million, up 48 per cent from last year. [ + ]

Victor Skladnev won't talk about last Friday's extraordinary general meeting of Polartechnics (ASX:PLT) shareholders. Referring only to the "disruptions" -- in which erstwhile chairman Richard Opara tried and failed to replace Skladnev as CEO -- Skladnev is keen to put the past behind him and focus on driving profits into the company. [ + ]

Psivida has been granted its fifth US patent for the classification of porous silicon into monodispersed particles with a tight size distribution. [ + ]

Adelaide-based venture and development capital firm Paragon Equity has invested more than $AUD850,000 to acquire a 10 per equity holding of Adelaide biopharma BresaGen (ASX:BGN). [ + ]

Andrew Nash has been named CEO of Amrad Corporation (ASX:AML), three months after he stepped into the role following the resignation of Peter Smith in May. [ + ]