There is no reason why an Australian biotech company couldn't be the next Amgen, says Chris Henney, the US scientist turned serial entrepreneur who has a seat on Adelaide company Bionomics' board of directors. But he warns that will likely have to move to the US in order to pursue their goal, in part due to the lack of capital available for company growth in Australia. [ + ]

ResMed (ASX:RMD) shares were up almost 5 per cent today after the company announced record revenue and income results for the quarter ended December 31 Revenue for the quarter was US$103.9 million, a 26 per cent increase over the same quarter last year. Net income for the quarter was US$17.4 million. [ + ]

The Burrill Biotech Select Index slipped 4.6 per cent in January, but Steve Burrill is bullish about 2005, despite the ramifications of the Merck-Vioxx situation spilling over into the biotech sector. [ + ]

Bionomics (ASX: BNO) CEO Deborah Rathjen outlined the company's strategy for growth at a briefing this week, noting that the company aimed to become a AUD$200 million company within three years. [ + ]

Australia's CSL (ASX:CSL) and California's Medimmune both won a milestone and royalty bonus today when their collaborators, developers of two competing vaccines for HPV (human papillomavirus) vaccines, announced they would cross-licence patents on which both vaccines were based. [ + ]

NZ biotech company Neuren listed on the ASX today (ASX:NEU) in a less than stellar debut -- the company's shares opened at the issue price of AUD$0.40 but quickly lost ground. At press time, the shares were trading at around $0.37 after dropping as low as $0.335. [ + ]

Western Australia's moratorium on genetically modified crops has emerged as a potential electoral liability for state premier Geoff Gallop's ALP government, as the state approaches a cliffhanger election. [ + ]

Brisbane cancer-drug developer Progen Industries (ASX:PGL, NASDAQ:PGLAF) is planning a new trial of its lead compound PI-88 in patients with metastatic melanoma - this time as an adjuvant therapy to prevent the deadly cancer progressing in newly diagnosed patients. [ + ]

Melbourne immune therapy developer Norwood Immunology Ltd (AIM:NIM) has announced that the US Food and Drug Administration has granted investigational new drug (IND) approval for its first bone-marrow transplant trial in cancer patients [ + ]

Sydney researchers have used gene therapy to experimentally transform skin cells into a novel type of muscle cell that could rejuvenate damaged hearts and correct abnormal heartbeats. [ + ]

Melbourne biotechs Starpharma (ASX:SPL, USOTC:SPHRY) and Anadis are teaming up to develop a two-pronged defence against biowarfare agents like pneumonic plague and anthrax. [ + ]

Chemeq's bail-out deal with Japanese investment group Mizuho International has been signed off, and subject to approval from Chemeq's shareholders, the company will receive an injection of cash of at least AUD$40 million. [ + ]

The timetable for the legal fight between Biota (ASX: BTA) and pharmaceutical giant GlaxoSmithKline (GSK) has been agreed to by the companies' legal teams. [ + ]

A consortium led by Stem Cell Sciences' UK centre has been awarded £1.2 million by the UK Department of Trade and Industry (DTI) to fund a program in drug discovery for regenerative medicine. [ + ]

In the four months since it listed on the ASX, Melbourne-based Acrux (ASX: ACR) has had a busy time of it. This week the company announced successful completion of its Phase I study for a transdermal spray to deliver pain drug Fentanyl to treat severe chronic pain. CEO Igor Gonda is confident that this outcome gives the company an attractive commercial opportunity. [ + ]