Regeneus receives R&D tax incentive refund of $2.7m

Monday, 12 September 2016

Regeneus Ltd (ASX: RGS), a clinical-stage regenerative medicine company, today reported that it has received $2.73m from the Australian Government’s Research and Development Tax Incentive Program for activities conducted during the financial year 2016.

During the financial year, the company’s expenditure on eligible R&D activities increased to 77% compared to 68% in prior financial year. The R&D tax incentive is the most significant Federal Government program for promoting R&D and innovation in the biotechnology sector in Australia.

Regeneus will use the funds to progress its regenerative medicine product pipeline and expects that it will be eligible to receive further reimbursement for funds in its R&D programs during the financial year 2017.