Progen goes into Phase III and ChemGenex Phase II, Bionomics looks at anxiety, Clinuvel gets orphan designation and Avexa announces collaboration and good results.

Last year wasn't the best on record for the Australian biotechnology industry but this year and the next look much more promising. Share prices are up, investors are showing more interest and there are a lot of good stories to tell and sell.

NSW is running its annual BioFirst commercialisation awards again, offering cash and advice for local biotechs.

Brisbane cancer drug developer Progen Industries (ASX:PGL) managing director Lewis Lee has resigned, and the company has named his replacement -- one-time Monsanto executive Justus Homburg.

While many companies are preparing to shut down for the festive season, parts of the Australian biotech sector show no signs of getting into holiday mode.

Perth-based biomedical devices developer Visiomed Group (ASX:VSG) is aiming to raise AUD$1.6 million after costs through a placement of up to 90 million shares at $0.02 each.

The Australian Stock Exchange has created a market that attracts not only local biotechnology companies, but also gives opportunities to foreign companies that would be unable to attract capital in their own markets. Helen Schuller reports.

What are the odds that Australians' precious nest eggs be used to invest in something as risky as biotech? Well guess what -- it's already happening, and governments face pressure to free up more superannuation funds, writes Ruth Beran.

It's hardly surprising that one of the Australian biotechnology industry's biggest bugbears is a communication gap between companies and their investors.

Sydney-based SSH Medical (ASX:SSH) has started accepting applications for subscriptions to raise approximately $4.3 million to provide working capital for material science company Bio-Layer, which SSH is acquiring.

In the wake of its annual Australian Biotechnology Expo, held earlier this week in Sydney, EG Capital executive director Alison Coutts is optimistic that the Australian biotech sector is on the way back up.