961-970Marine molluscs have emerged as an important source containing numerous unique secondary metabolites which could be used for development of new drugs against many communicable and non-communicable deadly diseases. The current status of biologically active compounds extracted, identified and isolated from marine molluscs and tested for their anti-cancer, anti-inflammatory and anti-microbial activities together with important compounds isolated from them such as Dolastatin 10 & 15, Kahalalide F, Keenamide A, Spisulosine-ES-285 etc. which possess anti-cancer and Ziconotide having anti-inflammatory properties are discussed in this paper