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RePORTER (Research Portfolio Online Reporting Tools Expenditure and Results) is a searchable database of all US federally funded biomedical research conducted at universities, hospitals, and other institutions. The database is maintained by the National Institutes of Health. It is a vast resource covering projects for the past 30 years, and includes abstracts of what the researchers proposed. It also covers research carried out in New Zealand, which was funded by the US, and is searchable by disease, country, researcher, and more. A truly enormous resource.
Tips: Searching PubMed for a year or two after the grant may get you the published results of the project. PubMed abstracts will also produce the names of key investigators, and may include details of the institutions they work in.

ClinicalTrials.gov is published by the U.S. National Institutes of Health to provide patients, family members and members of the public with current information about clinical research studies.

ANZCTR (Australia New Zealand Clinical Trials Register) is an online clinical trial register, mainly comprising clinical trials being run in Australia and New Zealand.

The Pharmaceutical Research and Manufacturers of America (PhRMA) maintains a database of new medicines in development. The search page provides a useful link and can be searched in a variety of ways. Also of interest is this report on rare disease drugs in development, published in 2011.

The Australian Government medical research website provides interesting links to various bodies that fund and manage medical research in Australia.