Start-up support: Helping Race Oncology to successfully launch into the Australian market

When Race Oncology was looking to start-up in the Australian market, they knew they needed start-up support from an external provider to be successful.

Many businesses coming into the Australian market don’t understand the implications this will have on their business financially and how they should even begin navigating the market. When a business enters the Australian market as a publicly listed company, they must declare their Chief Financial Officer (CFO). Race Oncology had to consider appointing a CFO who had the ability to take on an extensive workload, meet all their obligations under Australian tax law, while also guiding the business through the Australian start-up environment.

Race Oncology needed a CFO that they could rely on to achieve their goals in the Australian market.

PKF provided the on-the-ground solution to Race Oncology’s expansion challenges, providing a CFO service that has helped them achieve their growth potential in the Australian market and, as a result, reach their goals on a global scale.

Launching a global business in the Australian market

Race Oncology is a precision oncology company with a Phase II/III cancer drug, Zantrene. As a business new to the Australian health sector, PKF was appointed to assist in CFO operations.

Our Business Advisory Partner and start-up specialist in Sydney, Christina Manfre was the ideal CFO Partner for Race Oncology. She used her years of experience with the Australian tax system and in the start-up environment to ensure Race Oncology had the best chance of success while meeting all record-keeping and financial reporting obligations as stipulated by Australian law.

Christina has extensive experience helping large businesses that are already established overseas to set up subsidiaries in Australia. She used her holistic firm approach to provide Race Oncology with solutions that supported all their CFO needs.

“Part of my role involves essentially being a project manager. I make sure all the financial pieces line up and connect with the right people in the business,” Christina said.

“For Race Oncology, this meant ensuring their business met Australian legal and tax obligations and was also established in Australia with the ability to scale and grow.”

Complying with Australian regulations and standards

We all know that meeting and complying with Australian regulations and standards can be a treacherous journey for any business, but for an International business this can be a difficult road, queue PKF.

Christina helped the Race Oncology team to navigate the Australian financial system and establish themselves on the ASX. She also advised Race Oncology on the Australian tax and regulatory system and helped them set up foundations for their business in compliance with Australian tax standards.

“Often overseas businesses don’t know the Australian tax system, so it was a matter of me helping Race Oncology navigate it,” Christina said.

Meeting Race Oncology’s needs

When appointing a CFO, Race Oncology knew that they needed financial assistance from a business with roots in Australia but also with a global reach.

The PKF International Network has offices in 440 cities, in 150 countries, across five continents. We have access to a world-wide community of business and financial experts who understand the global market and how it influences business operations in Australia. We have the expertise to provide start-up support that takes the global market and how it influences your business into account while providing unique guidance on the Australian tax system.

This was paramount to Race Oncology’s success in the Australian market.

The PKF difference

Our team of business experts and start-up specialists understand what a business needs to succeed. If you are after business start-up support, our team of specialists can help you determine and meet your goals, achieve sustainable growth and/or establish your business in an Australian or global market.

For strategic, unique start-up advice, get in contact with our trusted team of specialists today.