Industry News
Benitec in AIDS collaboration with LA's City of Hope
Brisbane gene-silencing company Benitec (ASX:BLT) and renowned Los Angeles medical research centre City of Hope (COH) have joined forces to develop a genetic bear trap for the AIDS virus, that they hope will prolong the lives of AIDS patients. [ + ]
Chemgenex rings in $5m loss
ChemGenex Pharmaceuticals (ASX: CXS) reported an AUD$5.1 million loss for the 2003-2004, with around $2 million of the loss attributable to costs associated with the merger between Australian company AGT Biosciences and US company ChemGenex Therapeutics in late June. [ + ]
Solbec expands devil's apple clinical trial
Perth biotech Solbec Pharmaceuticals (ASX:SPB) has expanded the Phase IIb clinical trial for its devil’s apple extract SBP002 – which is already showing promise as a treatment for mesothelioma -- and is commencing clinical trial identification studies against other forms of cancer. [ + ]
Imugene and CSIRO start efficacy trial of bird flu vaccine
As reports emerge of a new avian influenza outbreak in Malaysia and rumours that pigs in China are now being infected with the virus herald a potential pandemic, Imugene (ASX: IMU) and CSIRO Livestock Industries have announced they will start an efficacy trial in coming weeks to evaluate their new avian influenza vaccine in chickens. [ + ]
Blueberry compound fights cholesterol, study finds
A compound used by blueberries and grapes to fight off fungal infections could help lower cholesterol, US researchers have reported. [ + ]
PlasVacc to raise $5m for US purchase
Public unlisted animal plasma company PlasVacc has filed a prospectus with Asic to raise AUD$4.75 million to fund its planned acquisition of Californian equine plasma company Veterinary Dynamics (VDI). [ + ]
Circadian returns capital to investors
Long-time biotech investment group Circadian (ASX: CIR) is planning to return AUD$0.50 cents per share to investors after posting a $5.8 million profit for the 2003-2004 financial year with an even better profit forecast for next year. [ + ]
ARC research networks up and running
The Australian Research Council’s Research Network Program is out of the starting gates. It was announced today that 24 new research networks will be established across Australia with $42 million in funding from the federal government. [ + ]
P3 round two funding up for grabs
Research and development funding is up for grabs once more under round two of the federal government’s $150 million Pharmaceuticals Partnerships Program – known as P3 – which opened for applications today. [ + ]
Proteome Systems' IPO opens
Australian investors can now buy a piece of North Ryde-based biotechnology company Proteome Systems, the Australian company credited with pioneering the latter-day boom science of proteomics. [ + ]
NZ health service takes on GTG over licence fees
On the eve of its landmark patent-infringement case against US gene-testing company Applera Corp, Melbourne-based Genetic Technologies (ASX:GTG) has been hit with a New Zealand challenge to its right to charge licence fees for access to its non-coding DNA patents. [ + ]
Alchemia in good shape
Alchemia (ASX:ACL) has ended the 2003-04 financial year with a $6.5 million loss, slightly less than the recorded loss for the previous period. [ + ]
GroPep posts $1m profit
GroPep (ASX:GRO) has posted a AUD$1 million profit for the 2003-2004 financial year, achieving its aim of returning to profitability after its disastrous 2002 acquisition of Sydney company Biotech Australia. [ + ]
Benitec settles another lawsuit
RNAi company Benitec (ASX:BLT) has settled its second patent infringement lawsuit in two weeks, giving US company Genscript Corporation a non-exclusive worldwide licence to manufacture and sell DNA-directed RNAi (ddRNAi) products. [ + ]
In brief: Burns joins Progen; Cryptome appoints CSO
Progen Industries (ASX: PGL, NASDAQ: PGLAF), announced today it had appointed former Bresagen chief financial officer and company secretary, Linton Burns, as CFO and company secretary. [ + ]
