Melbourne-based Telix Pharmaceuticals Ltd has today reported the receipt of approval from the Australian TGA for its prostate cancer imaging product, Illuccix. Iluccix, after radiolabeling with gallium-68, is the first commercially approved PSMA-PET imaging agent available in Australia.
Telix Pharmaceuticals has noted that the TGA approval was an important milestone as it looks to make other regulatory submissions across the Asia Pacific.
Telix Pharmaceuticals has invested an enormous amount in R&D expenditure to reach this achievement, and are one of the largest recipients of refundable R&D tax offsets under the Australian R&D Tax Incentive:
Receipt of refundable R&D tax offsets of this magnitude reduces the need for a company to raise additional capital to complete trials, while making the pathway to commercialisation exponentially easier.