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BIOTRON LIMITED — Capital/Financing Update 2017
Oct 31, 2017
64528_rns_2017-10-31_7d757d51-f333-4456-930b-8a8287c05a70.pdf
Capital/Financing Update
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Level 2, 66 Hunter Street Sydney NSW 2000 Tel: (61-2) 9300 3344 Fax: (61-2) 9221 6333 E-mail: [email protected] Website: www.biotron.com.au
1 November 2017
The Manager Companies ASX Limited 20 Bridge Street Sydney NSW 2000
(1 page by email)
Dear Madam
R&D Tax Incentive
Biotron Limited (ASX:BIT) is pleased to announce that is has received an R&D Tax Incentive refund of $1.6 million for the 2016/17 financial year.
The R&D Tax Incentive is an Australian Government program under which companies receive cash refunds for 43.5% of eligible expenditure on research and development.
The incentive refund results from expenditure on Biotron's antiviral drug development programs.
Biotron's Managing Director, Dr Michelle Miller commented: "Whilst Biotron is fully funded for its current activities, which include the current Phase 2 HIV-1 trial (BIT225-009), this R&D cash rebate will strengthen the Company's cash position and support commercialisation activities."
Yours sincerely
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Peter J. Nightingale Company Secretary
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