Elderly woman with a jigsaw puzzle representing the brain
Source: Adobe Stock
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

Actinogen Medical Ltd (ASX:ACW) has received a $9 million R&D (research and development) tax incentive rebate for the 2024 fiscal year, based on clinical tests of its lead compound Xanamem – a prospective therapy for Alzheimer’s Disease and Depression.

The R& D rebate – which for Actinogen amounted to $9,034,351 – is a Federal government program which provides companies with cash refunds for eligible research and development expenditure.

Together with funds on hand, the rebate means Actinogen is financially supported up to mid-2026, facilitating its full enrolment of 220 participants in its Alzheimer’s phase 2b/3 clinical trial.

Xanamem is the key initiative which Actinogen is focusing on as a novel therapy for neurological neuropsychiatric diseases associated with dysregulated brain cortisol, and it controls the level of this chemical through the inhibition of the cortisol synthesis enzyme, 11β-HSD1, without affecting production of cortisol by the adrenal glands.

The drug is designed to enter the brain after it is absorbed in the intestines upon swallowing.

Actinogen’s share price moved up after the news, and at 13:33 AEDT, shares were trading at 2.5 cents – a rise of 4.17% since the market opened.

Join the discussion: See what HotCopper users are saying about Actinogen and be part of the conversations that move the markets.


ACW by the numbers
More From The Market Online
The Market Online Video

ASX Market Update: Unemployment remains steady at 4.1% | November 14, 2024

The ASX200 has been up 0.45% at 8,330 points in afternoon trade. Australia’s unemployment rate remained…
The Market Online Video

ASX Market Close: NAB predicts first rate cut will now be May |November 14, 2024

National Australia Bank (ASX:NAB) has become the first major bank to push out its prediction for…

Recce scores $6.75M R&D rebate

Recce Pharmaceuticals (ASX: RCE) has received a cash refund of $6,751,176 Research and Development (R&D) Tax…
HotCopper studio & website with Gumtree branding

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Let’s get straight to the point: of all the smallcaps in the Telecommunications index, The Market Ltd…