How Race Oncology’s $2.8M R&D Refund Could Transform Cancer Treatment Trials

Race Oncology’s R&D Refund Boosts Innovation

Race Oncology Limited, an ASX-listed biopharmaceutical company focused on cancer therapies, has announced it received a $2.8 million refund under the Australian Government’s Research & Development (R&D) Tax Incentive for the financial year ended June 2025. This refund reflects the government’s commitment to supporting innovation in Australian research-intensive companies.

The R&D Tax Incentive program offers a refundable tax offset of up to 43.5% on eligible R&D expenditure, designed to encourage investment in cutting-edge research. Race Oncology’s refund is a tangible endorsement of its ongoing efforts to develop novel cancer treatments, particularly its lead asset, RC220.

Expanding Support with Overseas R&D Activities

Beyond the domestic refund, Race Oncology expects an additional rebate in early 2026 once the Australian Taxation Office completes its assessment of the company’s overseas R&D activities. This is underpinned by a binding government guarantee issued in September 2024, which affirms eligibility for up to $20 million in R&D rebates over three years, including activities conducted outside Australia.

This advanced finding from AusIndustry highlights the national interest in Race Oncology’s research and extends financial support to its global development efforts, a critical factor for biopharmaceutical companies operating in international clinical landscapes.

Fueling Clinical Trials Across Multiple Cancer Types

Race Oncology’s CEO, Dr Daniel Tillett, emphasised the importance of the R&D tax incentive in accelerating the company’s clinical programs. The funds will be directed towards advancing RC220’s clinical trials in lung cancer, cardioprotection combined with anticancer activity in solid tumours, and acute myeloid leukemia.

RC220 is a proprietary formulation of RCDS1, a small molecule anticancer agent that inhibits the cancer growth regulator MYC through G4-DNA and RNA binding. The company has secured 20 years of patent protection for RCDS1, strengthening its intellectual property position as it progresses through Phase 3 and Phase 1 clinical trials.

Strategic Collaborations and Future Outlook

Race Oncology’s collaborations with leading institutions such as MD Anderson and the University of Wollongong, alongside ongoing exploration of partnerships and licensing opportunities, position the company well to accelerate patient access to its therapies worldwide.

With government-backed financial incentives and a robust clinical pipeline, Race Oncology is poised to make significant strides in addressing unmet needs in cancer care.