Imugene Limited (ASX: IMU), a clinical-stage immuno-oncology company developing a range of new and novel immunotherapies that seek to activate the immune system of cancer patients to treat and eradicate tumours, has announced the receipt of its research and development (R&D) tax refund for the 2024 financial year. The refund totals A$5,872,248, which includes $84,990 in interest.
The tax refund is part of the Australian Government’s R&D tax incentive program. This program provides companies engaging in eligible R&D activities with a refundable tax offset of up to 48.5%. Imugene intends to use the received funds to further advance the clinical development of its immuno-oncology pipeline.
Imugene’s pipeline includes an off-the-shelf (allogeneic) cell therapy CAR T drug azer-cel (azercabtagene zapreleucel) which targets CD19 to treat blood cancers. Their pipeline also includes multiple immunotherapy B-cell vaccine candidates and an oncolytic virotherapy (CF33) aimed at treating a variety of cancers in combination with standard of care drugs and emerging immunotherapies such as CAR T’s for solid tumours. The company aims to transform and improve cancer treatment, supported by clinical evidence and peer-reviewed research.
The announcement was authorised for release by the Managing Director and Chief Executive Officer of Imugene Limited.
