AdAlta Receives A$1,396,202 Additional FY26 R&D Tax Incentive Refund for EW-001

Mukul

12 November 2026 10:15 AM AEDT

AdAlta Receives A$1,396,202 Additional FY26 R&D Tax Incentive Refund for EW-001

Image Source: Krish Capital Pty Ltd

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AdAlta Limited (ASX:1AD) has received an additional Research and Development Tax Incentive refund of A$1,396,202 for the financial year ended 30 June 2026, made possible by an Advance Overseas Finding covering overseas R&D conducted on its lead CAR-T cell therapy EW-001, the company disclosed on 12 November 2026.

Key Points

AdAlta received an additional FY26 RDTI refund of A$1,396,202, enabled by the Advance Overseas Finding for EW-001 announced on 19 October 2026.
The refund exceeds AdAlta's October forecast of more than A$1 million for the additional amount.
Combined with a first FY26 instalment of A$0.23 million received in the September quarter, total FY26 RDTI refunds now exceed A$1.6 million.
The first manufacturing run of EW-001 in Australia at Cell Therapies Pty Ltd in Melbourne is scheduled for December 2026.

Advance Overseas Finding Unlocks Additional RDTI Refund

The Advance Overseas Finding, announced on 19 October 2026, confirmed that three areas of EW-001 work conducted overseas are eligible for Australia's R&D Tax Incentive program. Ordinarily, only R&D carried out in Australia qualifies under the program. EW-001, formerly known as BZDS1901, is AdAlta's lead CAR-T cell therapy targeting mesothelin-expressing cancers, including advanced mesothelioma. The Advance Overseas Finding covers R&D performed overseas on EW-001, enabling the additional refund that AdAlta said at the time was expected to exceed A$1 million.

Total FY26 Refunds Exceed A$1.6 Million

The A$1,396,202 refund, combined with the A$0.23 million first instalment received in the September quarter, brings total FY26 RDTI refunds received by AdAlta to more than A$1.6 million. The company described the funding as non-dilutive. AdAlta CEO and Managing Director Dr Tim Oldham stated in the filing that the refund returns more than 40% of what the company has already invested in EW-001 in China without issuing a single new share, and noted it reflects the company's East to West strategy delivering financially as well as scientifically.

EW-001 Manufacturing and Regulatory Milestones Scheduled for December 2026

According to the filing, two near-term milestones are approaching for EW-001. The United States Food and Drug Administration's formal minutes from AdAlta's pre-IND meeting are expected in early December 2026. Separately, the first manufacturing run of EW-001 in Australia is scheduled for December 2026 and will be conducted at Cell Therapies Pty Ltd in Melbourne. EW-001 is described in the filing as a novel, first-in-class CAR-T cell therapy designed to treat mesothelioma and potentially more than ten other cancers. EW-001 has not yet received regulatory approval for general commercial launch anywhere in the world.

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