Monsanto Australia will make no further investment in efforts to commercialise its genetically modified (GM) herbicide-tolerant Roundup Ready canola in Australia for at least 12 months. [ + ]

Swiss drug maker Roche says it has achieved its goals in a phase 111 study of its cancer drug Xeloda used to treat colon cancer. [ + ]

VRI BioMedical announced today that its probiotics range for the treatment of irritable bowel syndrome, diarrhoea and general intestinal health, is due to hit pharmacy shelves. [ + ]

Novogen (ASX: NRT) has been approved to commence a Phase I clinical trial at Sydney's St George Hospital of its second anti-cancer drug NV-18, a derivative of the company's first generation drug phenoxodiol. [ + ]

Sydney-based biotech Peptech (ASX:PTD) is enjoying halcyon days, today revealing an after-tax profit of AUD$29.5 million for the half-year to March 31, on total revenues of $45.5 million. [ + ]

Adelaide epilepsy specialist Bionomics (ASX:BNO) has announced a yin-yang collaboration with international drug-discovery, life-science research and analytical solutions company PerkinElmer. [ + ]

A discovery by United Kingdom Medical Research Council (MRC) scientists, working with colleagues at Oxford University, provides a promising platform for research into the development of new treatments for inflammatory diseases, including arthritis and asthma, and cancer.

Expatriate Australian polymer chemist Prof Andrew Holmes is set to join Melbourne's Bio21 Institute of Molecular Science and Biotechnology in October. [ + ]

The National Stem Cell Centre has received a substantial boost in the form of an extra AUD$55 million in federal government funding to support it through the period 2006-2011. [ + ]

Swinburne University academic, Graham Farrell, has designed a product that aims to make saving lives easier. The Reviva Mask is an inflatable resuscitation mask the size of a matchbox offering all the efficiency and protection of a commercial medical mask.

Don't think it's impossible for Australian companies to attract venture capital investment from the US, but their chances of success will be much greater if they can also prove that they can attract Australian VC. [ + ]

Prime Minister John Howard today announced a $5.3 billion package for science and innovation, the second tranche of funding under the Backing Australia’s Ability program. [ + ]

Singapore-based stem cell therapeutics company CyGenics has issued its prospectus for an AUD$18 million float on the ASX. With a pre-money valuation of $50 million, CyGenics will have a market capitalisation after the float of $68 million. [ + ]

Victorian drug-developer Biota released a bombshell this morning, announcing that it was suing its marketing partner, UK-based GlaxoSmithKline (GSK), for failure to promote and support its influenza drug, Relenza in the 5 years since the drug was launched. [ + ]

A US advisory panel has voiced support for further research to determine whether widely used anaemia drugs sold by Johnson & Johnson and Amgen might stimulate tumour growth. [ + ]