BCAL Diagnostics Limited (ASX:BDX) has secured firm commitments for an additional $4.9 million under its existing $10 million convertible note facility to support the company through 2027.
The company said new commitments can be drawn down as required and will sit alongside the first tranche of the company’s financial year 2026 Research and Development tax offset claim of $1.4 million.
It said the payment represents approximately 56 per cent of BCAL’s expected FY20226 R&D tax offset of around $2.5 million, with the balance anticipated in October 2026.
The company said the funds will underwrite ongoing investment in the development and commercialisation of its blood-based early cancer detection portfolio and support planned activities through 2027. The company’s available tests include BREASTESTplus, Avantect Pancreatic, Avantect Ovarian with BREASTESTplus Version 2, BREASTEST Monitor and an Avantect multi-cancer test in development.
CEO Anne Louise Arnett said, “We are delighted with the additional financing commitment for the balance of the Convertible Note facility. In addition, the R&D Tax offset continues to be an important source of non‑dilutive funding for BCAL as we advance our early cancer detection portfolio. This funding supports our commercialisation strategy as we focus on making simple blood‑based cancer tests more accessible to doctors and patients.”
