Australian peptide drug discovery company Phylogica has announced a collaboration and option agreement with pharmaceutical giant Johnson & Johnson subsidiary Janssen Biotech Inc, to discover new classes of drugs derived from its Phylomer platform.
Phylogica has completed a $2.15 million capital raising to fund its drug discovery infrastructure, invest in in-house programmes and support operational activities.
Stocks in Perth-based biotech pSivida have halved in value after the United States Food and Drug Administration declined to approve its treatment for back-of-the-eye problems associated with diabetes.
At close of trade today pSivida’s stock had lost 48.7 per cent, to trade at $2.10.
A sensor that predicts mechanical failure, a safety device to stop falls from high levels, and a tablet that mimics insulin for diabetics were among the top winners at the 2011 Mitsubishi Western Australian Innovator of the Year Awards.
Perth-based drug discovery company Phylogica plans to list on the Frankfurt Stock Exchange as part of its strategy to raise its profile in the international financial community.
The state's first early phase clinical trials facility opened today paving the way for Western Australia to play a bigger role in delivering new treatments for potentially life-threatening diseases.
Shares in Avita Medical were unchanged today despite receiving approval from the US Food and Drug Administration (FDA) to begin clinical trials of its ReCell Spray-On Skin device early next year, after the company suspended initial trials in 2008.
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