ASX biotechs risk losing crucial R&D funding under ‘catastrophic’ budget tweak
A slew of ASX listed biotech and critical minerals names could lose millions due to changes in R&D incentives that have sparked concerns across the wider innovation community.
A slew of ASX-listed small caps could lose tens of millions of dollars in crucial funding as a result of a subtle tweak to R&D tax incentives that has blindsided the innovation community.
One of the country’s largest R&D tax advisory firms Swanson Reed examined some of the top refundable R&D tax offset claimants reported publicly and found many would lose access under newly discovered rules that would cap eligibility to firms younger than 10 years old.
The companies at risk span industries from deep tech and life sciences to materials science, green hydrogen and defence software.
With reference to FY25 claims announced to the market and collated by Capital Brief, some of the companies at risk of losing access to the program are Imugene ($2.7 million), Clarity Pharmaceuticals ($9.8 million), Arovella Therapeutics ($3.5 million), 4D Medical ($6 million), Chimeric Therapeutics ($4.5 million) and Race Oncology ($2.8 million). Each of these companies have been contacted for comment.
