A team of international scientists – including Australians – has made a breakthrough in solving the problem that had put the development of marine-derived pharmaceuticals on hold for years.

Brisbane natural pesticide developer BioProspect (ASX:BPO) faced a setback this week, after its potential European licensee, Germany's W Neudorff, declined to pursue development of BioProspect's eucalyptus-derived biocide for carpet beetles and clothes moths. [ + ]

Sydney-based biopharmaceutical Apollo Life Sciences (ASX:AOP) has made a stellar debut on the ASX, at a 54 per cent premium to its offer price. [ + ]

The Minister of Education, Science and Training, Dr Brendan Nelson has announced that the Australian Government would provide more than A$60.4 million for research in the latest round of the Australian Research Council’s (ARC) Linkage Projects Scheme.

Brisbane's Peplin Biotech (ASX:PEP) has enrolled the last of 60 Australian patients for its Phase IIa clinical trial of its topical PEP005 treatment for actinic keratoses (AKs) -- pre-cancerous, dry, scaly areas of sun-damaged skin. [ + ]

Brisbane biopharma CBio has broken the proverbial bottle of champagne over the bows of its new laboratory and office premises at Brisbane Technology Park, and with Commonwealth P3 grant in hand, is ready to "forge ahead" with developing its novel anti-inflammatory molecule. [ + ]

The executive director of the Austin Research Institute, Mark Hogarth, has resigned as a director of Prima Biomed (ASX:PRR). The company cited Hogarth's increased responsibilities at the ARI for his resignation. [ + ]

Melbourne-based biotech Avexa (ASX:AVX) has been forced to rethink its plans to develop its reformulated hepatitis B candidate AVX491. [ + ]

A $20 million national facility which will help the nation to remain at the cutting edge of gene research has been officially opened at The Australian National University.

Brisbane cancer-drug developer Progen Industries (ASX:PGL, NASDAQ:PGLAF) has appointed San Francisco's Burrill and Co as matchmaker to sift its crammed dance card for a partner to take its promising angiogenesis inhibitor PI-88 to the market. [ + ]

Acrux (ASX:ACR) has received a US$1 million milestone payment from Vivus for its estradiol transdermal spray product Evamist, currently in Phase III clinical trials to treat menopausal symptoms in the US, which was due today. [ + ]

Antibody therapeutics company EvoGenix will open its initial public offering within a week and list on the ASX in early to mid-August, with the aim of raising AUD$9 million. [ + ]

Bionic ears that connect directly to hearing nerves and provide near-normal hearing capability may soon become reality. Along with other research areas like renewable energy and sustainable industries, the advances to be achieved by the recently established Australian Centre of Electromaterials Science are expected to be particularly valuable to the manufacturing industry.

University of Queensland parasitologist Prof Scott O'Neill has won a prestigious grant from the Bill and Melinda Gates Foundation in the US to work on a remarkable symbiotic bacteria that induces sterility in insects. [ + ]

CSL (ASX:CSL) will be conducting a further on-market buyback of up to 8 million shares during a 12-month period commencing July 12. [ + ]