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Another win for an Australian Business
April 5th, 2013Australian Biotechnology Company, Spinifex Pharmaceuticals has announced it has received an R&D Tax Incentive of approximately AUS$1.5 million. The Melbourne company established in June 2005 develops new medicinal drugs for the treatment and management of pain. The funds will be reinvested in further clinical development. Spinifex Pharmaceuticals CEO Tom McCarthy said: “This payment under the R&D tax incentive program is a good example of how Government initiatives can support innovative companies in the biotechnology industry and other sectors”.
Click here to read the media release.
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News & Research
News & ResearchGovernment Discussion Paper and Consultation on Patent Box for Medical and Biotechnology Sectors
In the May federal budget, the Australian Government announced that it will introduce a patent box for eligible income associated with new patents in the medical and biotechnology sectors. The patent box will apply to companies for income years commencing […]
Australia’s R&D tax incentive program is dually administered by two government agencies: AusIndustry (on behalf of Industry Innovation and Science Australia): registers R&D activities disclosed in applications lodged with the agency. AusIndustry has authority to make findings on eligibility of […]
