Optiscan’s R&D Tax Refund Jumps 164% to $1.78 Million in FY24
Optiscan Imaging Ltd has secured a $1.775 million R&D tax refund for FY24, more than doubling last year’s amount thanks to expanded claims on overseas research. The boost will fund ongoing development of its cutting-edge confocal laser endomicroscopy technology.
- Received $1.775 million R&D tax refund for FY24
- Refund more than doubled from $672,320 in prior year
- Successful claim includes eligible overseas R&D costs
- Funds to support ongoing advanced medical imaging projects
- Technology targets live optical biopsy and digital pathology markets
Optiscan’s R&D Refund Surge
Optiscan Imaging Ltd (ASX:OIL), a pioneer in medical imaging technology, announced it has received a $1.775 million research and development (R&D) tax refund for the 2024 financial year. This amount represents a significant increase from the $672,320 refund received in the previous year, reflecting the company’s successful application to include overseas R&D expenditures under the Australian Government’s R&D tax incentive program.
The Australian Federal Government’s program offers refundable tax offsets of up to 43.5% for eligible R&D activities, designed to encourage innovation and investment in cutting-edge technologies. Optiscan’s ability to claim overseas R&D costs marks a strategic expansion of its eligible expenses, underscoring the global scope of its research efforts.
Backing Innovation in Medical Imaging
Optiscan specialises in confocal laser endomicroscopy, a revolutionary technology that enables live, high-resolution optical biopsies and digital pathology imaging. Its patented “tissue contact” method delivers cellular-level imaging that surpasses traditional CT and MRI resolutions by over 1000 times. This capability holds promise for earlier disease detection, precision surgical guidance, and improved patient outcomes.
CEO Dr. Camile Farah highlighted the importance of the R&D tax incentive in supporting the company’s ambitious development pipeline. “The increased refund received this year will be utilised to support our ongoing R&D projects which have made significant progress, allowing us to bring Optiscan’s advanced technology to a wider market on time,” she said.
Strategic Implications and Market Potential
The substantial uplift in the R&D refund not only provides immediate financial relief but also signals Optiscan’s growing footprint in the global medical technology landscape. By leveraging overseas research capabilities, the company is broadening its innovation base and accelerating product development cycles.
With the global digital health market expanding rapidly, including the rise of robotic surgery and precision diagnostics, Optiscan’s technology is well-positioned to bridge the gap between surgical intervention and pathology analysis. This integrated approach could redefine clinical workflows and create new revenue streams.
Investors will be watching closely how effectively Optiscan deploys these funds to maintain its competitive edge and meet commercial milestones. The company’s ability to translate R&D progress into market-ready solutions will be critical to sustaining momentum.
Bottom Line?
Optiscan’s enhanced R&D funding sets the stage for accelerated innovation—but execution remains key to unlocking its full market potential.
Questions in the middle?
- How will Optiscan allocate the increased R&D funds across its product pipeline?
- What milestones or commercial partnerships might emerge from the expanded overseas research?
- Could further government incentives or grants amplify Optiscan’s growth trajectory?
