Genzyme will pay Wyeth US$121 million in cash for buy back rights to sell arthritis drug Synvisc in the United States and Europe. Genzyme said additional payments could extend until June 2012 for total payments of US$294 million. [ + ]

Shire Pharmaceuticals has posted an expected rise in underlying third-quarter earnings, but its shares have fallen on disappointment it had still not closed a long-awaited deal to buy new medicines. [ + ]

By using a device only six-millionths of a meter long, researchers at Cornell University have been able to detect the presence of as few as a half-dozen viruses — and they believe the device is sensitive enough to notice just one. The research could lead to simple detectors capable of differentiating between a wide variety of pathogens, including viruses, bacteria and toxic organic chemicals.

Peptech (ASX:PTD) has posted a record AUD$28.3 million net profit for the 2003-2004 financial year ending September 30, contrasting strongly with last year's $15.8 million loss. [ + ]

A gene called c-Cbl ('see sybil') has emerged as a hot -- literally -- new lead into the genetic maze linking differences in energy metabolism to obesity and type 2 diabetes. [ + ]

Few expect much of a new and unproven cancer drug undergoing its first test in Phase I clinical trial to determine its safety and tolerability -- so when it exhibits a clear therapeutic benefit in seriously ill cancer patients, people become excited. [ + ]

Researchers at Loughborough University in England aim to develop advanced tailor-made implants for people requiring facial reconstructive surgery.

The biotech industry has for many years worked to find ways of efficiently filtering valuable bio-process products on an industrially economic scale. The challenge has been to push throughput rates up without causing high shear rates and resultant cell lysis (splitting or decomposition) that would cause loss of yield. High shear can destroy delicate and valuable biological materials such as proteins, blood, algae and yeasts - and also brings with it a requirement for higher flow rates, which in turn raises pumping costs.

The sixth and final round of the federal government's Biotechnology Innovation Fund (BIF) grants has been announced, with AUD$11.8 million going to 51 biotechnology companies around Australia. [ + ]

Relaxed at the helm of his 95-foot yacht - the Sorcerer II -- on a brilliant Sydney morning, scientist and sailor J Craig Venter has started the Australian leg of his bid to circumnavigate the globe, sampling, sequencing and identifying microorganisms as he goes. [ + ]

The Australian Stock Exchange (ASX) and industry group AusBiotech will put together a committee to oversee the continued development and uptake of voluntary ASX reporting guidelines released earlier this year. [ + ]

Phosphagenics (ASX:POH) has raised £1.75 million (AUD$4.3 million) through a placement of about 18 million shares in the UK. [ + ]

Pharmaxis (ASX:PXS) has raised AUD$16.5 million in an oversubscribed placement to institutional and sophisticated investors in Australia. [ + ]

Amrad (ASX:AML) and the Ludwig Institute for Cancer Research have strengthened their collaboration for the development of vascular endothelial growth factor B (VEGF-B), which has potential applications in cancer and cardiovascular disease. [ + ]

Following its recent announcement of a successful Phase III trial of the successful completion of a Phase III clinical trial for its asthma diagnostic and treatment management tool Aridol, Sydney's Pharmaxis (ASX:PXS) has entered a trading halt -- to be lifted tomorrow morning -- pending the announcement of details of a placement and share purchase plan. [ + ]