A research and development (R&D) tax refund of A$5,872,248 for the 2024 financial year, including A$84,990 in interest, will support Imugene Ltd (ASX:IMU, OTC:IUGNF)’s ongoing clinical development of its immuno-oncology pipeline.
The refund was granted under the Australian Government’s R&D tax incentive, which offers a refundable tax offset of up to 48.5% for eligible research activities.
Imugene begins Phase II dosing in colorectal cancer trial, secures key US patent
Imugene recently started patient dosing in Australia for its Phase II Neo-POLEM clinical trial, marking a significant milestone in the development of its PD1-Vaxx immunotherapy. The first patient was treated at Queen Elizabeth Hospital in Adelaide.
The Neo-POLEM study is a neoadjuvant trial evaluating PD1-Vaxx in patients with mismatch repair-deficient / microsatellite instability-high (dMMR/MSI-high) colorectal cancer — a subtype representing approximately 15% of all colorectal cancer cases. By administering the therapy before surgery, the trial aims to improve treatment outcomes. Patient recruitment is ongoing across Australia and the United Kingdom.
The company also secured a Notice of Allowance from the United States Patent and Trademark Office (USPTO) for its onCARlytics platform, CF33-CD19. The patent, titled Oncolytic Virus Expressing a CAR T Cell Target and Uses Thereof, provides protection for both composition and method of use until August 10, 2038.
This US development strengthens Imugene’s intellectual property portfolio in key global markets, following a similar allowance granted in China earlier this year.