Sydney, Australia 4 February 2022
Clarity Pharmaceuticals (ASX: CU6) (“Clarity”), a clinical-stage radiopharmaceutical company developing next-generation products to address the growing needs in oncology, is pleased to announce that it has received a $3,262,861 Research and Development (R&D) tax refund as part of the Australian Federal Government’s R&D tax incentive, recognising the R&D undertaken by Clarity in the radiopharmaceutical field in the financial year ended 30 June 2021.
The R&D tax incentive is a program by the Australian Federal Government that encourages companies to engage and invest in R&D activities by providing a refundable tax offset of up to 43.5% of the eligible activities.
The tax refund is for all eligible R&D activities across Clarity’s radiopharmaceutical programs. The receipt of $3.26M in additional funding will further finance the development of Clarity’s Targeted Copper Theranostics (TCT) platform of products for various cancer indications.
Clarity’s Executive Chairman, Dr Alan Taylor, commented, “The R&D tax incentive provides Clarity with a valuable source of non-dilutive funding to assist us with investment in the development and validation of the TCT platform. Clarity continues to progress our portfolio of next-generation radiopharmaceutical products through clinical trials in the US and Australia in pursuit of our ultimate goal of improving treatment outcomes for children and adults with cancer.”
This announcement has been authorised for release by the Executive Chairman.
About Clarity
Clarity is a clinical stage radiopharmaceutical company focused on the treatment of serious disease. The Company is a leader in innovative radiopharmaceuticals, developing targeted copper theranostics based on its SAR Technology Platform for the treatment of cancer in children and adults.
www.claritypharmaceuticals.com
Media Contact
Dr Alan Taylor
Executive Chairman
+61 (0)413 871 165
ataylor@claritypharm.com
