1 September 2024
Starpharma receives $3.4M R&D tax incentive refund
Melbourne, Australia; Starpharma (ASX: SPL, OTCQX: SPHRY) today announced it has received the anticipated $3.4M of R&D tax incentive refund related to FY15 expenditures.
The R&D tax refund relates to Australian R&D expenditure on VivaGel®, DEPTM docetaxel and agrochemical programs, as well as eligible overseas expenditure for Starpharma’s DEPTM docetaxel clinical program.
Commenting on the refund, Starpharma CEO Dr Jackie Fairley said:
“The R&D tax incentive is an important program and provides a significant incentive to Starpharma in researching, developing and advancing commercially attractive innovative products.
“In addition to more advanced products such as VivaGel®, the R&D tax incentive has provided important support to the development of Starpharma’s DEPTM platform. The DEPTM platform has yielded valuable product opportunities including DEPTM docetaxel and underpins the major deal with AstraZeneca as well as other high potential internal programs, such as the recently highlighted targeted DEPTM program.”
Download ASX Announcement: Starpharma receives $3.4M R&D tax incentive refund (pdf file, 124kb)