Imugene Limited (ASX: IMU), a clinical-stage immuno-oncology company, has received AU$5,872,248 in research and development tax refunds for the 2024 financial year, including AU$84,990 in interest. The refund was granted under the Australian Government's R&D tax incentive program, which offers up to a 48.5% refundable offset for eligible research activities.
Funding to Accelerate Clinical Programs
The substantial funding injection will help accelerate the clinical development of Imugene's innovative immunotherapy pipeline. The company is currently advancing multiple programs designed to address various cancer types through different therapeutic approaches.
Diverse Oncology Pipeline
Imugene's development portfolio includes several promising therapeutic candidates across different cancer treatment modalities. The company is progressing its allogeneic CAR T therapy azer-cel specifically targeting blood cancers, representing a significant advancement in cellular immunotherapy approaches.
Additionally, the company is developing B-cell vaccine candidates and the CF33 oncolytic virus therapy designed to target solid tumors. These programs demonstrate Imugene's comprehensive approach to addressing both hematological malignancies and solid tumor cancers.
Strategic Development Approach
The company continues to leverage its cutting-edge technology platform and expert international team to progress treatments aimed at improving cancer outcomes and transforming patient care. This multi-pronged approach positions Imugene to address various unmet medical needs across the oncology landscape.
The R&D tax refund provides crucial non-dilutive funding that will support the continued advancement of these clinical programs without requiring additional equity financing, allowing the company to maintain its development momentum while preserving shareholder value.
