Get the Australian Edge.
The Australian Government is committed to promoting research and development by offering tax incentives and a favourable regulatory and business environment. By choosing Mayne Pharma Services, you may be eligible to take advantage of these benefits, and our proven experience in generating intellectual property can accelerate your program’s patent protection goals.
R&D Tax Program
The Australian Government’s Research and Development Tax Incentive makes Australia an attractive destination to take advantage of R&D initiatives.
Recover up to 43.5 cents from every dollar spent on R&D, or reduce tax by up to 15%
Administered by Innovation Australia and assisted by AusIndustry and the Australian Taxation Office (ATO), these targeted tax offsets are designed to encourage more companies to engage in R&D in Australia:
- 43.5% refundable tax offset for eligible entities with an aggregated turnover of less than $20 million p.a.
- 38.5% non-refundable tax offset for all other eligible entities
Located in South Australia, Mayne Pharma Services can facilitate partner introductions to local R&D tax experts.
Clinical Trial Fast Track
The Australian Government is committed to the clinical trials sector, with significant incentives to assist companies to complete early phase studies.
Australia’s favourable regulatory and business environment means clinical data can be accessed quicker than any other market, making it the country of choice for conducting early phase clinical trials.
Phase I activity in Australia has grown steadily, with a 17.2% growth from 2012–15, compared with 1.8% globally1
Clinical Trial fast track advantages and favourable regulatory pathways include:
- Site Initiation Visit (SIV) and Study Start can typically be achieved within 6 weeks
- Streamlined approval system to conduct clinical trials
- No IND required for clinical trials
- Full GMP material not required for Phase I clinical trials
Mayne Pharma Services can facilitate introductions to local Clinical Research Organisations.
1 Clinical Trials Capability Report, Jan 2018, www.austrade.gov.au
Patent Box
The Australia Federal Government announced in the May 2021 Federal Government Budget a patent box program, designed to encourage innovation and investment in the Australia’s biotech and medical industries.
Working with Mayne Pharma Services in Australia may provide your program access to the benefits of the patent box, which is planned to take effect from 1 July 2022.
Mayne Pharma has an impressive record of pharmaceutical innovation, creating patentable pharmaceutical IP globally. Since 1929, Mayne Pharma has achieved:
- 60+ patent applications with more than 25 granted in Australia
- 340+ patent applications in other countries around the world.