Industry News
Weevil overcome, but GM pea project shelved
CSIRO Plant Industry in Canberra has wound up a decade-long project to develop a genetically modified field pea resistant to the destructive pea weevil, because poultry and pigs fed on the GM pea dropped about 10 per cent in productivity. [ + ]
Australia's energy future launched
In one of the largest research projects of its type, leading Australian scientists will concentrate on the nation's future energy requirements which could lead to Australia developing one of the world's first hydrogen economies.
[ + ]Mayne buys cancer drugs for US market
Mayne Group (ASX:MAY) has continued its move into the US oncology market with the AUD$9.37 million purchase of two injectable oncology products from US firm Xanodyne Pharmacal. [ + ]
Kidney stem cell project launched
An ambitious project is underway in Australia to define and isolate renal stem cells so that they can be used to either repair or regenerate a kidney. [ + ]
Metabolic, Biota in successful share issues
Two of Melbourne's leading biotechs, Metabolic Pharmaceuticals (ASX:BBP) and Biota Holdings (ASX:BTA) have both announced successful share issues. [ + ]
Eiffel claims trial confirms technology's promise
Melbourne drug-reengineering company Eiffel Technologies (ASX:EIF) says the results of a new pre-clinical study in an animal model confirm the early promise of insulin 'nanomised' by its proprietary supercritical fluid technology. [ + ]
Weeds' herbicide resistance loophole exposed
The quest for potent new herbicides with highly selective activity against plant enzyme systems may be having the paradoxical effect of accelerating the emergence of herbicide-tolerant weeds, according to an Australian weeds expert. [ + ]
UK research scene drives plant scientists to Australia
Two Cambridge University plant molecular geneticists are quitting the UK to work in Australia because of the nation's climate of virulent opposition to genetically modified (GM) crops. [ + ]
Meditech nets $4.8m in placement
Queensland Investment Corporation has become the biggest shareholder in Melbourne-based company Meditech Research (ASX:MTR), after participating in a placement that raised AUD$4.8 million from QIC and other professional and sophisticated investors. [ + ]
UK's GM crop trials not relevant to us: CSIRO
The findings of a British study of the impact of genetically modified, herbicide-tolerant (GMHT) crops on farm biodiversity are critical to the future of GM crops in Britain, but have little relevance to Australia, CSIRO experts have concluded. [ + ]
Biotech heavyweights join Alchemia board
Brisbane firm Alchemia has beefed up its board with the appointments of seasoned biotechnology executive Mel Bridges as chairman and two new non-executive directors, including ex-Amgen consultant Dr Errol Malta and former Minter Ellison lawyer Nerolie Withnall. [ + ]
Pharmaxis closes IPO oversubscribed
Sydney-based Pharmaxis closed its IPO yesterday, three days earlier than scheduled after strong demand from investors. [ + ]
Ventracor raises $33m in rights issue
Ventracor (ASX:VCR) has closed its renounceable rights issue, raising approximately AUD$33 million in an offer oversubscribed by $12 million. [ + ]
BresaGen in $5m bridging finance bid
Adelaide biotech BresaGen (ASX:BGN) is attempting to boost its cash reserves by up to AUD$5 million through a private placement of convertible preference shares, managed by PricewaterhouseCoopers Securities. [ + ]
BioProspect buys trader to boost distribution prospects
Brisbane biopesticide developer BioProspect (ASX:BPO) has moved to establish itself as a significant player in the biotech business by acquiring agrochemical trader Tradewyns as a vehicle to distribute its products. [ + ]
