Immuron receives R&D tax concession refund from Australian government
Immuron Limited announced that under the Australian Government's Research and Development Income Tax Concession incentive program, the company has received a cash refund of A$0.53M for eligible research and development expenditure incurred during the 2019 Financial Year. This refund reflects the company's continual investment made in its research and development programs during the 2019 Financial Year to progress its pipeline programs as well as the continuous development of the company's existing Travelan / Protectyn programs. "We are grateful that the Australian Government is such a strong supporter of the development of early-stage biotechnology companies through the R&D Tax Concession initiative scheme," said Dr. Gary S. Jacob, CEO of Immuron. "This cash refund mechanism provides a non-dilutive way to help with the financing of our in-house programs. Immuron has an ambitious program underway to further the development of our unique hyperimmune bovine colostrum technology directed against gut-specific pathogenic organisms."