Bionomics sells up to focus on key drug

Biotechnology drug developer Bionomics has sold its French subsidiaries to focus on commercialising its lead drug candidate to treat post traumatic stress disorder. The company sold Neurofit and Prestwick Chemical which carry out contract research to Domain Therapeutics. Consideration for the sale was $3 million which is the amount of inter-company debt owed by Bionomics…

Brumbee solves electric hub motor issues, looks for partners

Sydney technology developer Barry Westlake has developed and tested a prototype electric vehicle which overcomes many of the problems first faced more than a century ago by motoring pioneer Ferdinand Porsche. Westlake, director of BAAD Concepts Pty Limited, has developed a fully electric, light weight medium compact vehicle capable of driving over all terrain from…

Fleet selects California company as satellite builder

Adelaide’s Fleet Space Technologies has selected California-based Tyvak International to mass-produce satellites for Fleet’s Low Earth Orbit nanosatellite constellation. The selection was revealed on social media by South Australia’s Department for Trade and Investment. The Department said: “It’s onwards and upwards for these two companies who are rocketing into space and proving that South Australia’s…

DXN to build its tenth Pacific data station

Modular data centre specialist DXN has signed a contract to supply its tenth pre-fabricated modular data cable landing station to the Pacific islands. The latest agreement, for $714,000, will see three terrestrial cable landing stations constructed, delivering high-speed broadband communications to Tokelau. DXN announced the contract with Telecommunication Tokelau Corporation which supplies services to the…

Pact Group in $500 million recycling pledge

Packaging company PACT Group has committed to investing $500 million with its partners in existing and new facilities to further the recycling and reuse of plastic materials. Pact chairman Raphael Geminder made the pledge at a National Plastics Summit at Parliament House, Canberra as part of plans to lead the development of a circular economy.…

Nestlé and IQ Renew to recycle soft plastics

Australia’s largest food manufacturer, Nestlé and recycler iQ Renew are to trial the collection and recycling of soft plastics into a resource. The two announced the trial which will collect soft plastics from over 100,000 homes through kerbside recycling an a National Plastics Summit in Parliament House, Canberra. iQ Renew CEO Danial Gallagher said there…