Brisbane medtech company Ellume has hosted the US Consul-General Sharon Hudson-Dean and US Embassy officials to its Richlands plant as it scales up production of its rapid Covid-19 test kits. The officials inspected facilities which are being rapidly expanded to meet a $US230 million contract from the United States Department of Defense to provide its…
Hearing implant manufacturer Cochlear is recovering from the effects of the Covid-19 pandemic which interrupted surgical procedures, reporting today half-year earnings before interest and tax (EBIT) down only four per cent on the previous corresponding period. The Sydney company reported EBIT of $175.6 million with 17,377 implant units sold in the half compared to 18,894…
Funding from Australia and the United Kingdom has been revealed for a major research program to improve armour systems for the military. The UK Government announced a bilateral international program to accelerate the integration of advanced materials into military platforms. Funding covers integration of composites, adhesives for structural joining, joining high temperature structures and improving…
A novel ship design to carry Australian hydrogen to markets in North Asia is nearer construction with the completion of a capital raising by Global Energy Ventures. The company which develops compressed natural gas and hydrogen marine transport solutions, has raised $6.3 million in a share placement to institutional and sophisticated investors. The proceeds will…
The Federal Court has handed down a massive penalty against a research and development tax adviser who lodged overstated and unsubstantiated claims on behalf of clients. Thhe Australian Taxation Office revealed that judgement had been made against Paul Enzo Bogiatto who was ordered to pay $22.68 million in penalties. Bogiatto was ordered to pay $6.51…
Stealth Technologies is to develop a new ‘sensor stack’ to add to the autonomous robotic security vehicle (pictured) it is developing with Honeywell. The company, owned by listed business Strategic Elements, is developing the systems to make its robot more intuitive and responsive to the environment. As the company told investors the vehicle will be…
Australia’s largest company by market capitalisation, biotechnology manufacturer CSL has powered ahead in the first half of the financial year reporting a net profit after tax up 44 per cent on the previous corresponding period. The company, which is in the final stages of manufacturing the AstraZeneca Covid-19 vaccine, reported a NPAT of $1.8 billion…
Comment by Peter Roberts There is a myth, unkind as it is to frogs, that the amphibian when set in cold water and brought to the boil will just sit there even as conditions around it go from bad to worse. But something similar has been happening to all of us keen supporters of Australian…
Noxopharm’s loss on R&D activities Clinical stage drug development company Noxopharm has reported a loss of $6.7 million before tax for the first half of the financial year. The company, which is commercialising its drug Veyonda (pictured) for the treatment of advanced prostate cancer, spent $3 million on R&D and received a R&D tax refund…
A year ago Michael Clayton, CEO of Derby Rubber, watched as his Derby Steet factory went up in flames. Here he writes about the recreation of a leading manufacturing enterprise. Today marks 12 months since I commenced the most significant professional journey of my life – here are some of the lessons that I learnt.…