NeuroDiscovery up

Western Australian science research and development company NeuroDiscovery has reported a “pleasing financial performance in its first half year of operations”, since listing on the Australian Stock Exchange in August last year. Its half-yearly results to December 31 2005 were highlighted by contract revenues of $544,063 (for the period August 10 to December 31), and research and development revenues of $74,761.In addition, it also reported cash reserves of $2,501,745, which included an increase of approximately $164,000 in the final quarter of the calendar year, over the previous quarter. NeuroDiscovery operates in the global life science sector and its expertise is in the area of commercialisation and development of opportunities in the neurology field. The company continued to build its revenue stream during the December 2005 quarter, successfully entering into an initial six-month $155,000 revenue-generating contract with a UK affiliate of a major US-based pharmaceutical company, and a 16-month $335,000 work program under two contracts with a UK neurology drug discovery centre. It is also involved in a number of other revenue generating contracts, and research and development programs.