Progen (ASX:PGL) has sold its life sciences business unit to New Zealand-based Global Science and Technology (GST) for AUD$1.2 million. [ + ]

Epitan (ASX:EPT) has returned from its pre-IND meeting with the US Food and Drug Administration with a clear idea of what will be required to get approval for US clinical trials, according to CEO Wayne Millen. [ + ]

Long time biotechnology investor Leon Serry has called on the federal government to implement a 100 per cent tax deduction as an incentive for significant institutional investment into Australian companies running Phase III clinical trials. [ + ]

A breakthrough in the understanding of congenital neural tube defect spina bifida has been made at Royal Melbourne Hospital with the discovery of the responsible gene in the curly-tail mouse model of the disease. [ + ]

Norwood Abbey (ASX: NAL) has entered into a lucrative deal with TAP Pharmaceuticals, giving the US-based company an exclusive license to commercialise its immunology intellectual property in the US market. [ + ]

Sydney-based pharmaceutical company Pharmaxis (ASX:PXS) listed on the ASX on Monday after successfully raising AUD$25 million in its IPO last month. [ + ]

Melbourne biotechnology company Prima Biomed (ASX:PRR) is chuffed with an intriguing result reported by its subsidiary Arthron from trials of its experimental rheumatoid arthritis drugs in mice. [ + ]

Former Sirtex Medical CEO Dr Colin Sutton has today taken over as chief of artificial heart company Ventracor (ASX:VCR), replacing Michael Spooner. [ + ]

Brisbane-based carbohydrates company Alchemia is the latest company to seek listing on the ASX, announcing a AUD$21 million IPO to take place before Christmas. [ + ]

The appointments of new Chiefs to head CSIRO's Divisions of Plant Industry and Energy Technology were announced recently by CSIRO Chief Executive, Dr Geoff Garrett.

Melbourne-based research instrument developer Vision BioSystems is gearing up to launch its Bond-X immunohistochemistry system in the US before the end of the year. [ + ]

Devices company USCOM is seeking to raise AUD$16 million in an IPO to raise funds to commercialise its heart monitor. [ + ]

A steaming, sulphurous spring in the caldera of the world's coldest, most isolated volcano has yielded a powerful new forensic tool that will make it even tougher for criminals to evade the law. [ + ]

A University of Melbourne spin-off and pioneering bionic ear company Cochlear have joined forces to develop a treatment for severe incontinence. [ + ]

Melbourne drug design company Biota Holdings is preparing to sign up a partner to develop its new lead compound to quell the so-called 'common' cold. [ + ]