logo-loader
viewImugene Ltd

Imugene secures $4.13 million research and development tax refund

Imugene is planning two separate Phase 1 clinical trials in 2020 to test a CheckVacc construct and a Vaxinia construct of the CF33 oncolytic virus.

Imugene Ltd - Imugene secures $4.13 million research and development tax refund
The new funding will further Imugene’s commercial and clinical milestones

Imugene Ltd (ASX:IMU) has received a research and development (R&D) tax refund of $4.13 million as part of the Australian government’s R&D tax incentive.

This incentive recognises the important immuno-oncology research activities undertaken by Imugene during the financial year ended June 30 2019.

The receipt of the $4.13 million in additional funding will further Imugene’s commercial and clinical milestones.

Phase 1 oncolytic virus technology clinical trials

Imugene is advancing its preliminary clinical development plan (CDP) for the proposed exclusive license of the patents covering the CF33 oncolytic virus technology.

The CF33 oncolytic virus (OV) was developed in the lab of Professor Yuman Fong, an internationally recognised surgeon and scientist at City of Hope, a world-renowned independent research and treatment centre for cancer, diabetes and other life-threatening diseases based in California.

CF33 has been developed in two different constructs: one version of the OV is armed with an immune checkpoint inhibitor inserted in the virus, which is known as CheckVacc; and the other an unarmed construct, known as Vaxinia.

It is planned by Imugene that two separate Phase 1 clinical trials will be conducted in 2020 to test a CheckVacc construct and a Vaxinia construct of the OV.

Quick facts: Imugene Ltd

Price: 0.037 AUD

ASX:IMU
Market: ASX
Market Cap: $134.57 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Imugene Ltd named herein, including the promotion by the Company of Imugene Ltd in any Content on the Site, the Company receives from said...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Imugene receives $4.13 million R&D tax incentive boost for commercial and...

Imugene Ltd (ASX:IMU) chief executive officer Leslie Chong and visiting US Professor Yuman Fong update Proactive on the progress of the company’s remarkable CF33 oncolytic virotherapy technology, which was acquired in July 2019. Professor Fong is the inventor of the technology and spoke about...

3 weeks, 4 days ago

2 min read