Biota begins dosing in early stage cold preventative

Phase II trials of long-acting compound conclude, Phase III next

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).

The Commonwealth government has outlined AUD$6.5 million in urgent funding for 33 research projects aiming to prevent, detect or control avian influenza and other respiratory disease outbreaks.

Melbourne-based Biota Holdings (ASX:BTA) has commenced a phase I clinical trial of its human rhinovirus (HRV) drug, BTA-798, for the prevention and treatment of one of the major causes of the common cold.

Benitec (ASX:BLT) has appointed former Axon Instruments VP Michael Catelani as executive director and Boron Molecular founder Peter Francis as non-executive director.

Federal health minister Tony Abbott was on hand to cut the ribbon for the first of two Relenza production lines at GlaxoSmithKline's manufacturing facilities in Boronia, Victoria, last week.

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.

The Commonwealth government has confirmed that it will add 1.8 million courses of Relenza to the National Medical Stockpile in preparation for a possible influenza pandemic.

Melbourne-based Biota Holdings (ASX:BTA) has entered into a licensing and collaboration agreement with US company MedImmune (Nasdaq:MEDI) to develop and commercialise Biota's small molecule compounds for the prevention and treatment of respiratory syncytial virus (RSV) infection.

The CEO of Melbourne company Biota Holdings (ASX:BTA), Peter Cook, believes GlaxoSmithKline is using delaying tactics in the current court case before the Victorian courts, in which Biota is suing GSK for up to AUD$430 million.