• Significant progress made towards first patient treatment in Phase 1 trial of RC220
• Board renewal continued with the appointment of Dr Megan Baldwin as an independent Non-Executive Director
• R&D Tax Incentive payment of $5.25m received, increasing cash held to $18.78m

Race Oncology Ltd released its Q2 FY2025 quarterly report, highlighting significant progress towards first patient treatment in a Phase 1 trial of RC220 in combination with doxorubicin, with submission of the ethics and regulatory data package. The company also welcomed Dr Megan Baldwin, Founder & Chief Innovation Officer of Opthea, as an independent Non-Executive Director, and appointed two new senior scientists, Drs Kirsten Curnow and Sumit Shani. Race received a $5.25m R&D Tax Incentive payment, increasing its cash and cash equivalents to $18.78 million as of 31 December 2024. The company made further progress on the RC220 Phase 1 trial in early 2025, addressing minor clarifications requested by the ethics committee, with site activation and first patient recruitment expected in Q1 CY2025.