Sydney bio-nano company Ambri has raised AUD$15.5 million through a placement of ordinary shares to a mix of existing and new institutional investors, and simultaneously announced it will write off $20.7 million worth of IP value from its accounts. [ + ]

The head of the structural biology division at Melbourne's Walter and Eliza Hall Institute has tipped "one to two new drugs" will be developed at the facility in the next five years. [ + ]

The funding floodgates suddenly appear to have swung open for young and not-so-young biotechs -- at least in Queensland. [ + ]

With a nationwide freeze in place on commercial production of genetically modified canola, Australia's leading plant geneticist delivered a warning to GM-shy state governments yesterday: use it, or lose markets. [ + ]

Chemists at the University of Technology, Sydney have developed a test that promises to reduce the number of false negatives in melanoma diagnosis, and potentially for other forms of cancer as well.

Agricultural scientists and biotech researchers should not concentrate on new biotechnology solutions at the expense of traditional methods -- the latter still have plenty of promise, a recent Sydney forum has been told. [ + ]

Online industry and share market watcher Biomedoz has called it a day. Last week, the site posted a note informing users that it would close "in the next couple of days". [ + ]

Cardia subsidiary Bioglobal has signed a marketing and distribution agreement with Cotton Growers Services, a joint venture company owned by Bayer CropScience and Syngenta, for a product to control the Heliothis moth. [ + ]

AGT Biosciences says it has filed another three patent applications for genes involved in diabetes and obesity. [ + ]

Macquarie University has linked together several of its existing departments, along with outside interests to build its own 'virtual' biotech research institute. [ + ]

Thirty three marine species are poised to invade Australian waters, and could seriously alter the balance of marine life or even pose a risk to human health if they reach our coasts.

Prima BioMed subsidiary Cancer Vac has announced positive results from the Phase Ib clinical trial of its cancer vaccine immunotherapy. [ + ]

Brisbane firm Alchemia has capped a lengthy hunt for additional investment by securing $2.75 million in fresh funding, according to CEO Tracie Ramsdale. [ + ]

Meditech Research is to start clinical trials on its HyCAMP anti-cancer compound, targeting colorectal tumours in patients at the Centre for the Development of Cancer Therapeutics in Melbourne. [ + ]

Peptech's application for a patent on antibodies or antibody fragments that bind to a specific tumour necrosis factor (TNF) has been given the green light by US patent authorities. [ + ]