Overview of Starpharma's R&D Tax Incentive refund

Starpharma (ASX:SPL) 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™.

Executive commentary on R&D Tax Incentive refund

Starpharma's Chief Executive Officer, Cheryl Maley, stated, '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.'

Summary of R&D Tax Incentive refund and outlook

Starpharma (ASX:SPL) has received a $5.5M Research and Development (R&D) Tax Incentive refund for the 2024 financial year, reflecting the company's commitment to advancing dendrimer technology and addressing significant health challenges. The Australian Government's R&D Tax Incentive program aims to encourage investment in R&D, fueling innovation and ultimately boosting Australia's global competitiveness. Starpharma's CEO emphasized the company's focus on translating progress into tangible results aligned with their strategic priorities: maximising DEP® asset value, accelerating early asset development, and building long-term sustainability. This refund underscores Starpharma's dedication to driving innovation and product development within the biotechnology sector, positioning the company for continued advancement and potential future successes.