OncoSil Medical (ASX: OSL) has announced a refund of $1,535,444 from the Australian Taxation Office related to expenditure on eligible R & D activities conducted during the 2014-15 financial year.
Sydney-based OncoSil is a clinical-stage company with the aim of developing new technologies for safer medical radiation treatments.
Its lead product is OncoSil, a silicon and P32 (phosphorus) pure beta emitter with the potential to be used medically as a brachytherapy treatment. The OncoSil device delivers more concentrated and localised beta radiation compared to external beam radiation. The the first target indication is pancreatic cancer.