The two co-founders of biopharmaceutical company Protemix have bought the intellectual property assets out of liquidation in a bid to revive a once promising diabetes treatment programme.

Garth and Margaret Cooper have placed the assets, including valuable patents, in a not for profit entity called PhilERA.

In a statement they said the move is part of a “renewed focus to realise the health benefits envisaged at the time the research programme was founded.”

Failed Dunedin biotechnology company Botry-zen will be de-listed from the NZX today, with nothing left for shareholders.

But receiver Matt Taylor, WHK principal, said he was still talking to parties about selling the company as a going concern. "Negotiations are underway with more than one party. We're still in there and still trading."

Animal health research company, Argenta, this week won the 2010 NZBIO emerging company of the year award for its rapid international growth in an area of “sophisticated biotech manufacturing”.

Judging Committee member Doug Wilson said the company worked with a low-risk, high-reward model and exported tens of millions of dollars a year.

“It serves as a robust example of the potential rewards for New Zealand biotech companies when their model is correct and their business strategy is implemented effectively.”

Marlborough-based bio-energy company Aquaflow Bionomic Corporation is dipping its toes further into international markets in a US-government funded demonstration project.

The United States Department of Energy has awarded $US1.5 million to technology and manufacturing company Honeywell (NYSE:HON) subsidiary UOP, for a demonstration biofuel project in Virginia.

An expanding bioscience sector generated $351 million income in 2009, according to a Statistics New Zealand survey.

The Bioscience Survey 2009 found 108 core bioscience companies generated $351 million income in 2009 – about half of which came from export goods.

The core group had an expenditure of $246 million.

But access to capital was the main constraint across the sector in both research and development (R&D) and commercialisation. Most bioscience partnerships and alliances were worth $5 million or less.