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Imugene Ltd receives $6.5M R&D Tax Offset Refund

Melbourne-based Imugene Ltd announced in January 2022 the receipt of the company’s FY21 R&D Tax Offset refund of $6,541,921.

The company has noted that the funds will support its commercial and clinical milestones, several of which have progressed in recent months, including:

• Granting of additional patents for the company’s HER-Vaxx Immunotherapy in China and South Korea;
• Completion of Phase 1a trial of immunotherapy PD1-Vaxx;
• US Food and Drug Administration (FDA) consent for clinical trials for its oncology treatments.

In recent years the market capitalisation of Imugene Ltd has increased significantly to over $2 Billion AUD.

Receipt of refundable R&D tax offsets of this magnitude reduces the need for a company to raise additional capital to complete trials, and make pathway to commercialisation exponentially easier.

To see if your company is eligible for the R&D Tax Offset, fill out our eligibility form here.