Posted: 13 August 2024
Amplia Therapeutics Limited (ASX: ATX), (“Amplia” or the “Company”) is pleased to advise that it has received a Research and Development (R&D) Tax Incentive refund of $3,177,718 for the 2023/2024 financial year. The refund relates to expenditure incurred in research and development associated with the Company’s FAK inhibitors, narmafotinib (AMP945) and AMP886.
These R&D activities primarily related to the Company’s ongoing Phase 1b/2a clinical trial of narmafotinib in advanced pancreatic cancer patients.
Following receipt of the funds, the Company will fully repay the loan of $1,467,000 received from Director Dr Robert Peach along with accrued interest1. The net funds will contribute to the further progression of the Company’s Phase 1b/2a clinical trial of narmafotinib and other R&D activities.
The Australian Government’s Research and Development Tax Incentive is a program to encourage businesses to undertake research and development (R&D) activities and provides eligible companies with cash refunds for 43.5-48.5% of eligible expenditure on research and development activities.
This ASX announcement was approved and authorised for release by the CEO of Amplia Therapeutics.
