(NewsDirect)
Race Oncology Ltd(ASX:RAC) CEO Daniel Tillett joins Jonathan Jackson in the Proactivestudio to provide an update on the company’s movements over the lastfew months. Just recently, Race received a $4 million R&D taxincentive tto accelerate clinical development of bisantrene, which isundergoing Phase II trials specifically for Acute Myeloid Leukemia.The clinical-stage biopharmaceutical company develops drugs designedto treat cancer, but is unique in that its novel approach treats thecancer, while protecting the heart. Race has had a strong half of thefinancial year, executing an exclusive licensing agreement with Cityof Hope and entering an agreement with Ardena Holding NV, to provideadditional current Good Manufacturing Practice (cGMP). The company isnow focused on hitting several milestones through 2024.
On the R&D rebate,Tillett said: “The Australian Government’s R&D tax incentiveprogram plays a critical role in helping Australian research-intensivecompanies to innovate. This incentive is especially important inhelping biopharmaceutical companies such as Race Oncology solvesignificant unmet needsfor patients.
"We are grateful to receive this refund and look forward toutilising the funds to accelerate the clinical development ofbisantrene in 2024 and beyond.”
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Proactive Investors
JonathanJackson
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jonathan@proactiveinvestors.com
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