Viralytics reports $2.9 million from R&D Tax Incentive

Company News

Sydney-based Viralytics (ASX: VLA) has received $2.9 million from the Australian Taxation Office under the R&D Tax Incentive program relating to the financial year ending 30 June 2015.

The company said the funds will contribute towards advancing the development program in the US and UK assessing CAVATAK in five clinical trials including combination studies with other cancer immunotherapies and in a range of significant cancer indications.

CAVATAK is currently being studied in Phase 1 and 2 clinical trials for the treatment of melanoma, as well as prostate, bladder and lung cancers. Intratumoural, intravenous and intravesicular delivery routes are also under investigation.

The company recently announced a clinical trial collaboration agreement with MSD to evaluate the combination of CAVATAK with the US company's PBS-listed KEYTRUDA, an anti-PD-1 therapy.