When Merck announced last year it was buying Sirna Therapeutics for over US$1 billion, the world sat up and took notice. RNAi was now being seen as not only a revolution in our understanding but something with an unimaginable dollar value as well.

"Seeing you all here means the company has survived," the chairman of RNAi specialist Benitec (ASX:BLT) Ray Whitten, told shareholders at today's AGM in Sydney.

The legal mists are lifting from Black Mountain in Canberra, and Mountain View in California, clarifying the ownership of key patents on RNA interference (RNAi) gene silencing technology.

Adelaide-based GroPep (ASX:GRO) has recorded pre-tax profit of AUD$3.1 million for the year ending 30 June 2005, an increase of more than 200 per cent over the $1 million reported last year.

Investigators from three major pharmaceutical firms -- Bristol-Myers Squibb., Eli Lilly and Novartis -- are joining forces with the Broad Institute and other leading academic centres to create the RNA Interference (RNAi) Consortium.

CSL (ASX:CSL) has completed the sale of its JRH Biosciences division to Sigma-Aldrich for US$370 million, and Bionomics (ASX:BNO) has completed the acquisition of a French contract research organisation.

CSL (ASX:CSL) has reported a strong net profit of $160.1 million for the first six months of the 2004-2005 fiscal year, up more than 500 per cent on the figures reported last year.

Adelaide biotech company GroPep (ASX: GRO) will profit substantially from the sale of JRH Biosciences to Sigma-Aldrich -- the company has negotiated for the transfer of its marketing, sales and distribution agreement with CSL to JRH, through the life of the agreement, which expires in 2010.

CSL (ASX: CSL) has sold its JRH Biosciences cell culture reagents division to US company Sigma-Aldrich for US$370 million (about AUD$492 million) in cash.

Starpharma's (ASX:SPL) 2002-03 revenues jumped 11 per cent to AUD$1.5 million and its operating loss fell to $7.7 million, the company has announced.

Starpharma has been granted a third broad US patent for its dendrimer technology, covering applications for anti-microbial and anti-parasitic compositions.