Chimeric Therapeutics Ltd (ASX:CHM) has received a research and development (R&D) tax refund of more than A$3.06 million under the Australian Government’s R&D tax incentive program.
The company secured the A$3,061,205 refund in recognition of R&D activities conducted during FY2022.
Chimeric continues to actively develop its oncology pipeline with new and novel cell therapy assets, bringing the promise of cell therapy to life for more cancer patients.
Promisingly, the R&D tax refund will provide important funding for the continued development of these innovative cell therapies.
The refund comes from the Australian Government R&D tax incentive program, which provides companies engaging in eligible activities with a refundable tax offset of up to 43.5%.
About Chimeric
Chimeric Therapeutics is a clinical-stage cell therapy company and a leading player in cell therapy in Australia.
In its pipeline are three major programs, including CHM 1101 (CLTX CAR T) for the treatment of solid tumours, CHM 2101 (CDH17 CAR T) for gastrointestinal tumours and CHM 0201 (CORE-NK platform) for blood cancers and solid tumours.