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. [ + ]

Portland Orthopaedics CEO David Sekel told a recent gathering of the Australian Venture Capitalists Association that the company's rush to prepare for an IPO last year -- a process which did not come to fruition -- had been premature, and that a trade sale was now an attractive option. [ + ]

A survey on the public perception of stem cell research suggests that how research is funded and who conducts it are more important to individuals than religious beliefs. [ + ]

Researchers from the Queen Mary Hospital in London have said the Roche's neuraminidase inhibitor Tamiflu (oseltamivir) is effective against avian and human forms of the virus, which has so far killed 32 people this year. [ + ]

Facing a human and economic catastrophe, and with the Beijing Olympics less than four years away, the Chinese government has struck a unique deal with a small, Sydney-based company, NarHex Life Sciences, to fast-track clinical trials of one of the world's most promising new AIDS drugs. [ + ]

Cryptome (ASX:CRP) chairman Graham Kelly offered shareholders few clues about reasons behind the resignation of CEO Jeffrey Travis at today's annual general meeting, but the company has announced the appointment of Prof Mathew Vardas as acting CEO. [ + ]

The life sciences sector once again received the largest slice of US venture capital investment in Q2 of 2004, according to a survey of the professional venture capital community. Investments in the sector amounted to US$1.26 billion -- 29 per cent of all venture capital invested. [ + ]

New Zealand biotechnology company Neuren Pharmaceuticals is evaluating possible options in Australia for raising capital, including private equity and an IPO on the ASX. [ + ]

Brisbane RNAi gene therapy company Benitec (ASX:BLT) has granted a global, non-exclusive licence for its gene-silencing technology to a German company that develops genetically modified mice for research. [ + ]

Biota (ASX: BTA) shareholders have shown resounding support for the company in an oversubscribed share purchase plan that has raised AUD$20 million. [ + ]

In-licensing of clinical-stage compounds for development is a useful way to build sustainable value for your company and fill out your pipeline, the CEO of San Diego company Structural Genomix (SGX) Timothy Harris told venture capitalists and other attendees at this week's AVCAL networking lunch in Melbourne. [ + ]

Healthcare projects like personal health monitoring and distance medical care will be core issues at CSIRO's new national ICT research centre. [ + ]

Hong Kong biotechnology company CK Life Sciences, part of the Cheung Kong group, is set to invest $10 million in R&D in Victoria, according to state premier Steve Bracks. [ + ]