Australia’s medical technology industry has experienced significant growth over the past few years, with industry experts saying healthcare is a major area for digital disruption. In 2021, the medtech industry was investing $10 billion a year in Australia, up from around $300 billion in 2013, according to the New Daily. Whatsmore, 15 of the top 20 biotech companies have sales and revenue, which wasn’t the case 15 years ago. Whether the demand has been a long time coming with an […]
ASX Listed, Sydney based company Immutep Ltd (ASX:IMM) has recently announced on 23 September 2022 that it has received a €1,804,341 (around A$2,693,000) payment in cash from the French Government under its Crédit d’Impôt Recherche scheme (CIR). A similar magnitude payment was received in the previous years. The payment relates to activity the company is conducting in Paris to develop its novel Immunotherapy treatments. Immutep Ltd also registers activities under the Australian R&D Tax Incentive. Whilst there is likely to […]
Melbourne-based Telix Pharmaceuticals has been one of the largest recipients of the R&D Tax incentive, and has now achieved a rare feat in Biotechnology; commercialising a product, and continuing to grow. The company reportedly received a more than $12M R&D tax offset refund for activity undertaken during the year ended 31 December 2020, and more than $11M in the preceding period, for their work on cancer diagnostic and treatment. Telix Pharmaceuticals’ technology uses radio pharmaceuticals to travel through the blood […]
The Australian Government first announced that it will introduce a patent box for eligible income associated with new patents in the medical and biotechnology sectors in the May 2021 federal budget. The legislation to enact this was introduced to the lower house in February, but with very few Senate sitting days left before the federal election it may not be passed in time. The Tax Concession for Australian Medical Innovations Bill 2022 introduces a patent box scheme that would see […]