Cellmid | Driving force behind identification of government grants

By Nicholas Falzon

2020
  • Business Advisory

Cellmid came to PKF in 2009, having already established a relationship with PKF Business Advisory Director/Partner Nicholas Falzon previously when he was at a different firm.

Cellmid’s CEO, Maria Halasz recalled that at the time they required assistance with tax compliance and preparation of financial reports.

“When I came on board almost 14 years ago, we were looking for a competent management accountant for our group,” Maria said.

“Nick had obviously provided us with a very high-quality service that we felt couldn’t be matched because we followed him to PKF.”

Cellmid is an innovative Australian company with exciting research and development (R&D) projects in multiple disease indications. They provide unique services tailored to a highly R&D focused and quickly growing business in the medical and life sciences market. 

For more than a decade, PKF has assisted Cellmid by acting as an interim CFO role, conducting annual audits of financial reports. This has also included management reporting, analysis and general ledger maintenance.

We have been able to uncover opportunities for Cellmid which was not looked at before, such as the identification of government funding streams, including R&D Tax Concessions, that are critical to the finances of the company.

In 2019, Cellmid grew in revenue by 40 per cent. That business growth has continued on an upward trajectory, allowing the business to take its novel therapies and diagnostic tests to the United States.

The alignment and strong professional collaboration between Cellmid and PKF is clear.

“We consider ourselves a part of the Cellmid team, guiding its growth in the global market and assisting with the development of important medical products through our advisory services, as well as the complexity that comes with being in an innovative and highly regulated industry,” Nicholas said.

“Our continued goal is helping Cellmid grow into a successful international business making a global impact in the medical industry.”

Maria agreed, stating, “Nick and the PKF team has a solid understanding of what we require and bring targeted business solutions to us. It’s the flexibility, reliability, the good solid pair of hands we can always rely on is the reason we continue to work with Nick.”

Understanding which programs to access to help fund business innovations and development activity takes time, resources and experience.

PKF Australia’s Innovation and R&D team has expertise across the full range of tax and grant support governments offer.