Prana Biotechnology has raised $7.8 million in cash to add to its fund for a Phase IIa trial in human patients of its PBT2 compound for Alzheimer's disease.

Melbourne-based Prana Biotechnology has announced that it has received regulatory approval from Sweden's Medical Products Agency (MPA) to start a Phase IIa clinical trial of its proprietary lead compound, PBT2, in patients with early Alzheimer's disease.

The value of the Australian life science sector declined 3.5 per cent during the fourth quarter, ending 30 June 2006, according to the latest BioForum report from PricewaterhouseCoopers (PwC).

Peplin (ASX:PEP) has reported preliminary results of its US-based phase IIa dose escalation clinical trial to establish the maximum tolerated dose of PEP005 in actinic keratosis (AK), also known as solar keratosis, a skin condition which can develop into skin cancer.

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.

Prima Biomed's (ASX:PRR) results from a phase I clinical trial of its CancerVac MFP technology for advanced adenocarcinoma have been accepted and published in the journal Clinical Cancer Research.

The US FDA has given the all-clear for Auckland biopharma Neuren Pharmaceuticals (ASX:NEU) to move straight into a phase III major efficacy trial for lead molecule Glypromate.

John Chiplin, the new CEO of Sydney biopharma Peptech (ASX:PTD), sees strong similarities between the state of Australia's biotechnology industry and California's nascent biotechnology industry in San Diego in the mid-1980s.

Metabolic Pharmaceuticals (ASX:MBP) CEO Dr Roland Scollay is feeling no pain as his Melbourne-based biopharmaceutical company heads into a potentially momentous year in the clinic for its two lead compounds, the anti-obesity drug AOD9604 and chronic neuropathic pain lead ACV1.

A phase Ib clinical trial of Melbourne-based Phosphagenics' (ASX:POH, AIM:PSG) TPM-01 transdermal delivery system has demonstrated that therapeutic levels of morphine in plasma were achieved and maintained for more than 48 hours using the technology.

Melbourne's Antisense Therapeutics (ASX:ANP) has been granted approval to restart the phase IIa trial of its antisense compound ATL1102 for patients with relapsing remitting multiple sclerosis.