OncoSil Medical (ASX: $OSL) receives $1.1m R&D tax incentive

OncoSil Medical Ltd (ASX: $OSL) has received a research and development (R&D) tax refund of A$1,099,744 under the Australian Government's R&D tax incentive program. The refund is in recognition of OncoSil's R&D activities during the 2023 financial year and will provide important funding for continued development of its commercial-stage device delivering targeted radiotherapy for pancreatic cancer.

Executive Commentary

This document contains certain forward-looking statements, relating to OncoSil's business, which can be identified by the use of forward-looking terminology such as 'promising', 'plans', 'anticipated', 'will', 'project', 'believe', 'forecast', 'expected', 'estimated', 'targeting', 'aiming', 'set to', 'potential', 'seeking to', 'goal', 'could provide', 'intends', 'is being developed', 'could be', 'on track', or similar expressions, or by express or implied discussions regarding potential filings or marketing approvals, or potential future sales of product candidates. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements.

Summary

OncoSil Medical Ltd (ASX: $OSL) has received a research and development (R&D) tax refund of A$1,099,744 under the Australian Government's R&D tax incentive program. The refund is in recognition of OncoSil's R&D activities during the 2023 financial year and will provide important funding for continued development of its commercial-stage device delivering targeted radiotherapy for pancreatic cancer. The company has developed the OncoSilTM brachytherapy device, a critical component of a revolutionary brachytherapy treatment for locally advanced unresectable pancreatic cancer. The device has already received breakthrough device designation in the European Union, United Kingdom, and United States for the treatment of locally advanced unresectable pancreatic cancer in combination with chemotherapy. OncoSil is simultaneously moving to commercialize this unique medical technology and is currently approved for sale in 30+ countries including the European Union, United Kingdom, Turkey, and Israel, with initial commercial pancreatic cancer treatments using the device already undertaken in Spain, Italy, and Israel. The company's forward-looking statements emphasize the potential and goals for its product candidates, highlighting the risks and uncertainties involved in the regulatory process and commercialization efforts.