Receives R&D Tax Incentive Refund of $3.4 Million
Sydney, Oct 13, 2015 AEST (ABN Newswire) - Regeneus Ltd (
ASX:RGS), a clinical-stage regenerative medicine company, today reported that it has received $3.4m from the Australian Government's Research and Development Tax Incentive Program for activities conducted during the 2015 financial year.
The successful program is designed to encourage local R&D activities and support industry innovation. Regeneus will use the funds to progress its regenerative medicine product pipeline and anticipates that it will be eligible to receive reimbursement for qualifying expenditure in its R&D programs during the financial year 2016.
About Regeneus Ltd
Regeneus Ltd (ASX:RGS) is a Sydney-based clinical-stage regenerative medicine company using stem cell technologies to develop a portfolio of novel cell-based therapies. The regenerative therapies seek to address unmet medical needs in human health markets, focusing on neuropathic pain, including osteoarthritis and various skin conditions, with its platform technologies Progenza(TM) and Sygenus. Visit www.regeneus.com.au for more information.
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