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ACRUX LIMITED — Capital/Financing Update 2021
Apr 29, 2021
64293_rns_2021-04-29_1842e2dd-3284-4b3e-9d2b-6d9e7a9e3dcf.pdf
Capital/Financing Update
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ASX/Media Release
30 April 2021
Receipt of R&D Tax Incentive Rebate – Overseas Finding Application for Acrux Commercial Pty Ltd
Melbourne, Australia; 30 April 2021: Acrux Limited (ASX:ACR, “ Acrux ” or the “ Company ”) is pleased to announce that the Company’s 100% owned investee companies Acrux Commercial Pty Ltd and Acrux Pharma Pty Ltd have received approval from AusIndustry for an Advance and Overseas Finding application.
The finding covers financial years 2018/19, 2019/20 and 2020/21 and means that eligible overseas research and development expenditure, in addition to Australian expenditure, will be subject to a 43.5% cash rebate under the Australian Federal Government’s R&D Tax Incentive Program. The eligible expenditure was incurred during overseas development and clinical trial activities.
Today Acrux Commercial has received $406,209 for the 2018/19 and 2019/20 financial years. Acrux Pharma expects to receive a rebate for the same period in the current quarter.
A further rebate for the 2020/21 financial year is expected to be received for both investee companies in financial year 2021/22. The funds will be reinvested into the further development and commercialisation of the Company’s current and future pipeline of topical generics.
These amounts are in addition to the R&D Tax Incentive Rebate received in October 2020.
Acrux Limited would like to thank the Department of Industry, Science, Energy and Resources and the Australian Government for the implementation of this program.
Authorised by the Board of Acrux Limited.
For more information, please contact:
Michael Kotsanis Acrux Limited CEO & Managing Director P: + 61 3 8379 0100 E: [email protected]
About Acrux
Acrux (ASX: ACR) is a pharmaceutical company dedicated to developing and commercialising topical pharmaceuticals. Incorporated in 1998 and using in house facilities and capabilities, Acrux has successfully developed and commercialised through licensees a number of topically applied pharmaceutical products in the US and Europe. Acrux is developing of a range of generic products for the US market by leveraging its on-site laboratories, GMP manufacturing suite, clinical and commercial experience to bring affordable products to market. Acrux encourages collaboration and is well positioned to discuss partnering and product development.
For further information on Acrux, visit www.acrux.com.au