News and Announcements
Actinogen Medical Receives R&D Tax Incentive
- Published September 08, 2016 3:51PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
5th September 2016, ASX Announcement
Actinogen Medical Limited (ASX: ACW) is pleased to advise that the Company has received an R&D Tax Incentive rebate of $2,784,312 for the 2015/2016 financial year. The R&D Tax Incentive is an Australian Government program under which companies receive cash refunds for 45% of eligible expenditure on research and development.
To view the full announcement, please click on the button below.
ABOUT ACTINOGEN MEDICAL LTD
Actinogen Medical Ltd (ASX: ACW) is an Australian, publicly-listed early clinical-stage biotechnology company focused on the treatment of cognitive impairment and Alzheimer’s disease.
Actinogen is developing Xanamem™ as a novel treatment approach to Alzheimer’s disease and other age-related neurodegenerative diseases. Xanamem™ displays high potency and selectivity for inhibiting the activity of a key enzyme in the brain, which converts cortisone to cortisol. Cortisol is also known as the stress hormone, and elevated levels of cortisol has previously been linked to cognitive impairment. The pivotal human proof of concept study, also known as XanADu, commenced in 2Q2016.
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