Circadian is to trade shares for the remaining third of Vegenics

Circadian moves from 'biotech incubator' to drug development company

With AusBiotech 2007 being held in Brisbane next week, ALS takes its bi-annual survey of the state of the industry.

Former CSIRO chief John Stocker is now chairman of the board.

Australian biotech companies EvoGenix and Vegenics have entered into a technology collaboration agreement to target vascular endothelial growth factor D (VEGF-D), a mediator in angiogenesis.

Melbourne's Antisense Therapeutics (ASX:ANP) has raised $3.6 million through a private placement to Australian and professional investors to fund the phase IIa trial of its antisense compound ATL1102 for patients with relapsing remitting multiple sclerosis.

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.

Prof Vicki Sara has been appointed as director of the Australian Stem Cell Centre and will replace inaugural chairman Robert Moses when he relinquishes the role he has held for three years at the Annual General Meeting (AGM) on November 22. Sara is the chancellor of the University of Technology, Sydney, a fellow of the Australian Academy of Technological Science and Engineering and a former head of the Australian Research Council.

SciGen (ASX:SIE) executive vice-chairman and founder Saul Mashaal has been reappointed as CEO, a position he held until September 2001 when executive management of the company was transferred to Australia.

Veteran biotech investment group Circadian Technologies (ASX:CIR) has posted an AUD$21.77 million profit before tax for the 2004/05 financial year, up from $5.8 million for the previous corresponding year.

Acrux (ASX:ACR) has received a US$1 million milestone payment from Vivus for its estradiol transdermal spray product Evamist, currently in Phase III clinical trials to treat menopausal symptoms in the US, which was due today.