OncoSil Medical Receives AU$1.1 million R & D Boost for Pancreatic Cancer Treatment

OncoSil Medical Ltd (ASX: OSL) has received a AU$1.1 million research and development (R&D) tax refund from the Australian Government's R&D tax incentive program. The refund acknowledges OncoSil's R&D efforts during the 2023 financial year and will support the ongoing development of its commercial-stage device, delivering targeted radiotherapy for locally advanced pancreatic cancer.

The Australian Government R&D tax incentive program offers eligible companies a refundable tax offset of up to 43.5%. OncoSil's revolutionary brachytherapy treatment involves the OncoSil™ device, delivering intratumoural Phosphorous-32 in combination with gemcitabine-based chemotherapy. The device has received regulatory approvals and breakthrough designations in the European Union, United Kingdom, and the United States, with commercialization efforts underway in multiple countries, including Spain, Italy, and Israel.

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