A new government review has reported that investment in health and medical research delivered excellent returns and benefits to the community, and has recommended that overall Commonwealth government investment be increased to AUD$1.8 billion by 2008/9. [ + ]

Peptech Animal Health, a wholly owned subsidiary of Sydney-based Peptech (ASX:PTD) has begun to market its slow-release canine contraceptive, Suprelorin, to Australian veterinarians. [ + ]

A joint venture between Massachusetts pharmaceutical services company Charles River Laboratories (NYSE:CRL) and Sydney's Proteome Systems (ASX:PXL) has been wound up, a victim of the US company's recent $1.5 billion merger with the Inveresk Group. [ + ]

Trading in shares of Metabolic Pharmaceuticals (ASX:MBP) and Circadian Technologies (ASX:CIR) was halted today, in advance of the release of data from Phase IIb trials of Metabolic's obesity drug, AOD9604. [ + ]

Stem cell company Mesoblast today announced that its Initial Public Offer had closed fully subscribed, raising $21 million. [ + ]

Melbourne biotech Meditech Research (ASX:MTR) has signed a collaborative research agreement with Griffith University's Institute for Glycomics to develop novel carbohydrate-based topical drugs for inflammatory skin diseases, including psoriasis. [ + ]

A number of US institutional investors have purchased and exercised 9.5 million options in Prana Biotechnology (NASDAQ: PRAN, ASX: PBT) at $0.50 per share, raising US$3.7 million for the company. [ + ]

Select Vaccines (ASX: SLT) will collaborate with the CRC for Diagnostics (CDx) to develop a diagnostic assay for Epstein-Barr virus (EBV), using Select's adhesive peptide technology and the CDx's synthetic EBV peptides. [ + ]

Denmark's Genmab has announced its treatment against cancer of the lymphatic system, HuMax-CD20, had shown positive results in Phase I/II studies. [ + ]

Overseas trained doctors are most likely to stay in rural Victoria if they are ambivalent about where they want to settle or easily integrate into the community, a Monash University study has found.

Four companies are poised to float on the Australian Stock Exchange in December and January, with at least another two companies waiting in the wings. [ + ]

US venture-capital-backed artificial heart company Heartware is hoping to be the first in what might become a new wave of US firms considering an Australian IPO as an interim financing round, before moving on to a Nasdaq listing. [ + ]

The Australian Consumer and Competition Commission (ACCC), has dismayed Australia's agbiotech community by ruling that chickens fed genetically modified grain cannot be labelled GM-free. [ + ]

The Australian Consumer and Competition Commission (ACCC), has dismayed Australia's agbiotech community by ruling that chickens fed genetically modified grain cannot be labelled "GM-free". [ + ]

Cryptome (ASX: CRP) has signed a memorandum of understanding with the Institute of Molecular Bioscience (IMB) to collaborate on the identification of cardiovascular therapeutics. [ + ]