News and Announcements
Cellmid Limited – R&D; Tax Refund Received
- Published October 04, 2013 10:56AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
SYDNEY, Friday, 04 October 2013: Cellmid Limited (ASX: CDY) advises that it has received $711,895.35 refund under the Federal Government’s R&D Tax Incentive Scheme.
The tax refund relates to the cost of research and development conducted by the Company on its midkine technology portfolio during the 2013 financial year and was calculated as 45% of eligible expenditure.
A further $42,157 is expected in the coming weeks in relation to qualifying research and development activity in the Company’s subsidiary, Advangen International Pty Ltd.
The funds will be used to advance Cellmid’s product development programmes.
To read the full ASX Release please click on the document below.
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