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Telix Pharmaceuticals solidifies Australian Biotech Success, posting net profit after years of Refundable R&D Tax Offset Recipients

September 16th, 2024

Melbourne-based Telix Pharmaceuticals has previously been one of the largest recipients of the R&D Tax incentive, and has continued its rare feat in Biotechnology; commercialising a product, and progressing to growth and profit. The company’s radiopharmaceuticals are designed to deliver focused doses of radiation with precision targeting via an injection, regardless of where the cancer or disease is in the body. In the early stages of Telix Pharmaceuticals, the company was receiving substantial refundable R&D Tax Offsets (including more than $12M […]

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Labor Government’s Flagship $15b Manufacturing Fund Passes into Law

March 30th, 2023

Leading up to the 2022 federal election, the (then) Opposition Leader Anthony Albanese pledged in early 2022 that he would use Labor’s proposed $15 billion National Reconstruction Fund (NRF) to make medical technology, local manufacturing and other critical industry investments a top priority. After some debate in recent months, The National Reconstruction Fund (NRF) Corporation bill was passed by both houses earlier this week with support from the Greens and a number of crossbenchers, after a series of amendments were approved. The […]

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Neuren Pharmaceuticals becomes another Australian Biotech Success Story after US FDA Approves Treatment for Rett Syndrome

March 16th, 2023

Victorian based Neuren Pharmaceuticals’ North American partner, Acadia Pharmaceuticals, has received news this week that its treatment for Rett syndrome was approved by the US Food and Drug Administration. Neuren Pharmaceuticals and Acadia Pharmaceuticals had previously entered an exclusive licence in 2018 to develop and commercialise trofinetide for the treatment of Rett syndrome and other indications. Trofinetide, to be sold under the brand name DAYBUE, is now the first drug to be approved for the treatment of the neurodevelopmental disorder […]

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‘Pick a policy and stick to it’: CSL’s CEO calls for stability on innovation incentives.

February 16th, 2023

CSL is one of Australia’s greatest business and technical success stories and its shares have provided one of the best returns on the ASX among listed companies over the past decade. CSL has also been a very strong advocate of the R&D Tax Incentive and lobbied for maintenance of a strong and stable incentive to encourage local investment in R&D. In an article published in The Australian Financial Review, Paul Perreault, the CEO of CSL, says a bipartisan approach is needed to innovation […]

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