SYDNEY, Australia, 9 November 2018: Imugene Limited (ASX:IMU), an immuno- oncology company is pleased to advise that it has received a research and development (R&D) tax refund of $1.85 million as part of the Australian government’s R&D tax incentive. This incentive recognises the important immuno-oncology research activities undertaken by Imugene during the financial year ended 30 June 2018.
The receipt of the $1.85 million in additional funding will support our commercial and clinical milestones, with the company experiencing its most significant period of R&D expenditure in the September 2018 quarter, with R&D cash outflows of $1.65 million.
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