INOVIQ R&D tax refund announcement

INOVIQ (ASX:IIQ), an Australian biotechnology company, has announced the receipt of a $1.018 million refund under the Research & Development (R&D) Tax Incentive program. The refund pertains to the company's R&D activities conducted in the financial year 2024.

INOVIQ's focus on cancer diagnostics through R&D

INOVIQ Limited has successfully obtained a $1.018 million refund through the Australian Government's R&D Tax Incentive program, following a $2.7 million investment in R&D activities for FY24. This program supports companies by offering a 43.5% refundable tax offset for qualifying R&D expenses. INOVIQ is dedicated to advancing cancer diagnostics and therapeutics, with initiatives such as EXO-NET technology for biomarker discovery, the hTERT test for bladder cancer, and clinical-stage diagnostics for ovarian and breast cancer. This refund highlights INOVIQ's commitment to its R&D efforts and its strategic focus on enhancing cancer diagnosis and treatment solutions.

Executive commentary on R&D tax incentive

We are pleased to receive this refund under the R&D Tax Incentive program, which reflects our ongoing commitment to developing innovative cancer diagnostics and therapeutics.