Publications: News

Adelaide biotech Bionomics has presented the results of preclinical and clinical data for its anti-anxiety compound BNC210, demonstrating that the drug is more effective in treating stressed rats than the current market leader valium (Diazapem).

Troubled HIV drug developer Avexa may be poised for yet another coup after major shareholder Caldaza this week called for an extraordinary general meeting to discuss the future of the company

Australia’s biggest healthcare provider Ramsay Healthcare this week reported a 21.9 percent jump in full-year net profit to $178.5 million.

The Australian stock market just clawed its way into positive territory today as investors defied the prevailing gloom surrounding the US economy, although it wasn’t enough to snap a three-week losing streak.

Testosterone booster Acrux this week stormed into the black for the first time, announcing a net profit of $46.6 million after earlier in the year signing one of the biggest ever multinational licensing deals for an Australian biotech.

A report by analyst group Datamonitor has identified China and India’s pharmaceutical industries as the ones to watch following a flurry of M&A activity over the last three years.

Regenerative medicine specialists Mesoblast today reported a net loss of $14.8 million for the full year ended 30 June 2010, an increase on the previous year’s loss of $12.3 million.

Melbourne biotech Cellestis this week announced a full year net profit of $10.22 million, following strong growth in all of the company’s major markets.

The Australian stock market finished down today amid renewed concerns about the pace of the global economic recovery and as local investors await the outcome of tomorrow’s federal election, which has become too close to call.

Professor Philip Hogg, Director of the new Lowy Cancer Research Centre at the University of NSW, has received the prestigious 2010 Industry & Investment NSW Eureka Prize for Medical Research Translation.