Sydney, Australia 24 June 2024
Clarity Pharmaceuticals (ASX: CU6) (“Clarity”, “the Company”), a clinical stage radiopharmaceutical company with a mission to develop next-generation products that improve treatment outcomes for children and adults with cancer, is pleased to announce that it has received a $9,951,692 Research and Development (R&D) Tax Incentive refund as part of the Australian Federal Government’s R&D Tax Incentive program, recognising the R&D undertaken by Clarity in the financial year ended 30 June 2023.
Executive Chairman, Dr Alan Taylor, commented, “Clarity is committed to fast tracking our products through clinical development in order to benefit patients in need, through significantly investing in research and development and continuing to innovate and position the company as a global leader in radiopharmaceuticals. The speed of development of the Company’s product pipeline towards commercialisation has significantly increased, which can be clearly seen by the size of the R&D tax rebate compared to the previous financial year. The R&D Tax Incentive program, offered by the Australian Government, is an extremely valuable source of non-dilutive funding for Clarity, providing assistance with our continued investment in the development and validation of our Targeted Copper Theranostics (TCT) platform.”
The R&D Tax Incentive program encourages companies to engage and invest in R&D activities by providing a refundable tax offset of up to 48.5% of the eligible activities. The receipt of the $10 million will provide additional funding to further the development of Clarity’s TCT platform of products for various cancer indications.
About Clarity Pharmaceuticals
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.
Media Contacts
Clarity Pharmaceuticals
Dr Alan Taylor
Executive Chairperson
+61 (0)413 871 165
ataylor@claritypharm.com
Morrow Sodali
Catherine Strong
Investor/Media Relations
+61 (0)406 759 268
c.strong@morrowsodali.com
This announcement has been authorised for release by the Executive Chairperson.
