Renewal of Research and Development Receivable Facility
Sydney, Sep 7, 2021 AEST (ABN Newswire) - VGI Health Technology Limited (
NSX:VTL) is pleased to announce that it has agreed with FIFO Capital to renew a Receivable Finance Facility with respect to VTL's assessed tax cash benefit under the Federal Government's R&D Tax Incentive Program administered by AusIndustry and paid by the Australian Tax Office for the June 2022 Financial Year.
VTL's CEO and Managing Director, Dr Glenn Tong said "This financing facility allows VTL to access cash which it would only have had access to in the first quarter of the next financial year and is very helpful in the management of the Company's cash flow especially during the present time when our two Phase II clinical studies in Non-Alcoholic Fatty Liver Disease (NAFLD) and Pancreatic Cancer are about to commence."
About VGI Health Technology Limited
VGI Health Technology Limited (NSX:VTL) is an Australian public listed biotechnology company developing and commercialising novel dietary supplements and prescription medicines based on natural products (tocotrienols) which have wide therapeutic potential, including: Delayed Onset Muscle Soreness, muscle recovery, exercise endurance, Non-Alcoholic Fatty Liver Disease (NAFLD), Non-Alcoholic SteatoHepatitis (NASH), pancreatic cancer, hyperlipidaemia, hypertension and diabetes. VTL owns and controls patent and other intellectual property rights for novel approaches to non-invasively delivering tocotrienols directly to the target tissues. The Company has a product development program for evidence-based nutraceuticals and a clinical development program for prescription medicines.
| ||
|
