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.

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.

Cancer biopharma Meditech Research (ASX:MTR) has been offered a AUD$2.98 million AusIndustry Commercial Ready Grant over the next three years towards the development and commercialisation of its lead anti-cancer product HyCAMP, which is in Phase II clinical testing.

Victorian cancer biopharma Meditech Research (ASX:MTR) claims to have identified a hot new target for breast cancer therapy -- an enzyme called hyaluronic synthase 2 (HAS2), found in vesicles in cell membranes.

Greg Williams is Psiron's (ASC:PSX) new chief financial officer, a position he commenced on June 14.

Biotechnology stocks have been hit hard in calendar 2005 with the Intersuisse biotechnology index showing a fall of 23 per cent, including a 10 per cent fall in April.

Melbourne's Acrux (ASX: ACR) has Adam Watkinson as its chief scientific officer. Watkinson is currently manager of drug delivery research and project manager at UK pharmaceutical company ProStrakan .

A new environment for pharmaceutical companies is on the horizon and it will be the fittest who survive, predicts Ian Nisbet.

Starpharma (ASX: SPL, USOTC:SPHRY) has appointed former Cerylid Biosciences chief executive officer Dr Jackie Fairley to the newly created position of chief operating officer. Fairley will begin her role with Starpharma toward the middle of 2005.

Meditech Research (ASX: MTR) has reported that its revenues increased 90 per cent to AUD$679,495 while its net loss decreased marginally to $2.7 million during its financial year ending December 31, 2004.

Non-executive director Paul Grujic and chief financial officer Ian Purdy today resigned from West Australian biotech Chemeq (ASX: CMQ).