Melbourne, Australia; 12 September 2024: Starpharma (ASX: SPL, OTCQX: SPHRY), an innovative biotechnology company with two decades of experience in advancing dendrimer technology from the lab to the patient, today announces that it has received a $5.5M Research and Development (R&D) Tax Incentive refund for the 2024 financial year. The refund is associated with eligible R&D activities across Starpharma’s portfolio, including the company’s DEP® drug delivery programs and VIRALEZE™.

The Australian Government's R&D Tax Incentive program provides a refundable tax offset to companies such as Starpharma that are undertaking eligible R&D activities. This initiative aims to encourage investment in R&D, fuelling innovation and ultimately boosting Australia's global competitiveness, driving economic growth and creating job opportunities.

Starpharma’s Chief Executive Officer, Cheryl Maley, commented:

"Starpharma is pleased to announce the receipt of $5.5 million under the Australian Government’s R&D Tax Incentive program. This program is important in driving innovation and product development within our sector, enabling local companies to invest in addressing significant health challenges. This aligns with our mission of improving health outcomes and the quality of life for individuals with serious illnesses by developing medical products using our unique dendrimer technology.

“Starpharma has made significant progress in advancing its dendrimer technology from the lab to the patient. The company has developed three clinical-stage assets and has a pipeline of assets in new areas, including radiopharmaceuticals. The company has also brought to market three products based on its dendrimer technology and has established partnerships with global companies to expand the reach of its technology.

“We are continuing to focus on translating this progress into tangible results that align with our three strategic priorities: maximising DEP® asset value, accelerating early asset development, and building long-term sustainability.”

View/download the ASX Announcement: Starpharma Receives $5.5M R&D Tax Incentive Refund.