Starpharma: Receives $7.7m R&D tax refund

Starpharma Receives $7.7m R&D tax refund

• Starpharma (SPL) receives a $7.7 million research and development tax incentive refund
• The refund falls under the Australian Federal Government’s R&D Tax Incentive Scheme
• The funds were granted in relation to the company’s activities during the 2021 financial year, including development of its DEP oncology products and VIRALEZE antiviral nasal spray
• This follows $1 million in funding awarded to the company for the development of VIRALEZE provided through the Australian Government’s Medical Future Fund Biomedical Translation Bridge program
• The company dips 1.72 per cent, trading at $1.14 at 2:40pm AEDT