AusBiotech

Paradigm Biopharmaceuticals has suffered a setback after an independent monitoring board found that its Phase 3 knee osteoarthritis trial failed to meet the efficacy threshold required to continue.

BCAL Diagnostics has started a phased rollout of Avantect Multi-Cancer in Sydney and Melbourne and plans to expand nationally later.

Prescient Therapeutics has raised $6 million from shareholders and investors. The money will fund its lead cancer drug through a December dosing review and into the next stage of clinical development.

Seven Australian startups will share $15.6 million to speed up the development of new treatments, diagnostic tools and technologies for dementia and cognitive decline.

Melbourne kidney disease drug developer Dimerix has drawn $17 million from a $34 million loan facility as its lead candidate goes through a pivotal Phase 3 trial.

The final visit took place in the United States this week. The company told investors that topline results from the XanaMIA phase 2b/3 trial remain on track for November.

Perth company Patrys has started in-human testing of its intravenous version of the antipsychotic quetiapine. The first healthy volunteers have now been dosed in a Phase 1a trial of the drug, known as RLS-2202.

A Melbourne biotechnology company betting on immune cell cargo as a treatment for Alzheimer's disease has enlisted one of Australia's best-known stem cell laboratories to find out whether the idea holds up in human brain tissue.

Anthropic has expanded its AI for Science commitment in Australia with an additional $10 million in Claude API credit grants, bringing its total investment in Australian research to $13 million since the program launched in April.

Genetic Signatures and Microba Life Sciences have agreed on the principal commercial terms of a merger that would combine two ASX-listed Australian diagnostics businesses into a single group.

Managing Director and Chief Executive James Bonnar said, "This capital raise marks a pivotal moment for Nyrada. The strong support from both new and existing investors is a powerful validation of our science, our team, our novel drug Xolatryp, and our potential to address serious unmet clinical needs."

The Australian nuclear medicine company has agreed to lead a merger with ITM Isotope Technologies Munich SE, paying US$1.65 billion upfront on a cash-free, debt-free basis for a German company that supplies the raw material the entire targeted radionuclide therapy industry depends on.