Patent family grows for synthetic heparin oligosaccharides

Clinical trials have found that GlaxoSmithKline's anti-blood clotting drug Arixtra nearly halved the risk of blood clots in acutely ill patients, a result that is expected to boost the commercial prospects of Brisbane-based Alchemia's (ASX:ACL) generic version of the drug.

The first batch of Brisbane biopharma Alchemia's (ASX:ACL) synthetic heparin has completed purification -- the final stage of the pilot scale process development -- at the US facilities of the company's manufacturing partner, The Dow Chemical Company.

Australian biotech stocks underperformed both the All Ordinaries and the Nasdaq Biotech Index in 2005, but the second half of the year was brighter with stocks gaining 23.2 per cent, according to the Intersuisse Biotechnology Index.

Brisbane biopharma Alchemia (ASX:ACL) has successfully raised AUD$5 million, closing its share purchase plan heavily oversubscribed. Earlier this month the company raised $14.6 million through a share placement.

Brisbane biopharma Alchemia (ASX:ACL) will commence a collaborative research project next year with the University of Queensland through its preclinical service provider, TetraQ to develop a new generation of opioid-based painkillers to treat severe pain.

Biotech shares bucked the trend during the month of October - the Intersuisse biotechnology index gained 6.6 per cent in contrast to the All Ordinaries and the Nasdaq Biotech Index, which fell by 3.9 per cent and 3.8 per cent respectively.

The Australian life sciences sector has picked up with small cap stocks seeing positive growth in the last quarter, according to the November edition of PricewaterhouseCoopers' quarterly BioForum report.

The Dow Chemical Company has exercised AUD$2 million worth of options in manufacturing partner Alchemia (ASX:ACL).

Alchemia (ASX:ACL) has raised AUD$14.6 million through a share placement and will commence a share purchase plan (SPP) to offer an additional $5 million to existing shareholders.

Cash is finally flowing towards biotechnology and medical device stocks after a long and sustained drought, according to Intersuisse biotechnology index for the quarter ended September 2005.