North Ryde proteomics technology and research company Proteome Systems will list on the ASX later this year at a valuation of only $160 million, after sceptical fund managers baulked at a share price proposal that would have valued it at $300 million. [ + ]

The US Food and Drug Administration has approved Brisbane-based Xenome’s Investigational New Drug (IND) submission for its Xen2174 pain killer. [ + ]

Australian Cancer Technology ("AustCancer") (ASX:ACU) has finalised due diligence on its US$5 million acquisition of Alabama-based vaccine developer Galenica Pharmaceuticals. [ + ]

The Cooperative Research Centre for Polymers (CRC-P) has won a CRC innovation award for the development and commercialisation of a polymer cable that will change fire protection around the world.

Acyte Biotechnology, a spin-out from the University of New South Wales, is to team up with Swiss biopharmaceutical giant Serono to develop recombinant proteins using Acyte's mammalian cell expression technology. [ + ]

Life Therapeutics -- formerly known as Gradipore (ASX:GDP) -- is aiming toestablish a Level 1 American Depository Receipt (ADR) program, in readiness for a Nasdaq. [ + ]

Alabama-based Galenica Pharmaceuticals has delighted its prospective new owner, Sydney oncology specialist Australian Cancer Technology(ASX:ACU), by announcing an agreement with New York's Memorial Sloan-Kettering Cancer Centre to evaluate Galenica's promising immunity enhancer GPI-0100 in several Phase II clinical trials. [ + ]

Prostate Cancer Foundation chief executive Leslie Michelson is turning to eBay to raise research dollars as baby boomers approach the danger age when the disease -- the second-leading cause of cancer deaths in US males -- is most likely to strike. [ + ]

The outlook for biotech IPOs dimmed further last Friday, as Senomyx cut the price of its offering for the second time in as many days and Momenta Pharmaceuticals reducing its estimated price range. [ + ]

Adelaide epilepsy specialist Bionomics (ASX:BNO) has validated its promising genetic test for severe myoclonic epilepsy of infancy (SMEI) by successfully screening a large cohort of children diagnosed with severe epilepsy. [ + ]

New Zealand cancer prognostics company Pacific Edge Biotechnology appears close to securing multi-million dollar investments from several big Japanese pharmaceutical companies. [ + ]

Shareholders of Melbourne-based AGT Biosciences (ASX:AGT) have backed the company's merger with privately-held Californian firm ChemGenex Therapeutics. [ + ]

Amrad (ASX:AML) has not received specific instructions from Japanese drugmaker Chugai that it intends to sell of its 9 per cent stake in Amrad, CEO Peter Smith said today. [ + ]

Researchers at the Queensland Institute for Medical Research (QIMR) in Brisbane hope to begin human trials late this year of a vaccine that could prevent three different forms of cancer associated with infection by Epstein-Barr virus. [ + ]

How do plant pathogens proliferate? Graeme O'Neill finds that new research suggests the answer is blowin' in the wind. [ + ]