- Amplia Therapeutics (ATX) has been granted a $2.1 million Research and Development (R&D) cash flow loan
- The $2.1 million will be awarded in two tranches: $1.3m in December this year and $0.8 million in the quarter ending March 31, 2022
- The company says it will use funds to increase work on its second Focal Adhesion Kinase (FAK) inhibitor, AMP886
- This will allow Amplia to evaluate new therapeutic opportunities and prepare preclinical activates designed to support future clinical trials of AMP886
- Amplia Therapeutics is up 2.9 per cent, trading at 18 cents at 12:40 pm AEDT
Amplia Therapeutics (ATX) has been granted a $2.1 million Research and Development (R&D) cash flow loan.
The company’s non-dilutive funding facility forms part of the Victorian government’s R&D Cash Flow Initiative.
The $2.1 million will be awarded in two tranches: $1.3m in December this year and $0.8 million in the quarter ending March 31, 2022.
The facility relates to FY2022 R&D expenditure and is in addition to R&D rebate received for the FY2021 period.
The company says it will use funds to increase work on its second Focal Adhesion Kinase (FAK) inhibitor, AMP886.
This will allow Amplia to evaluate new therapeutic opportunities and prepare preclinical activates designed to support future clinical trials of AMP886.
Amplia’s CEO and managing director, Dr John Lambert, said further studies evaluating the antifibrotic potential of AMP945 is also in the works.
“The first Phase 2 clinical study of our leading FAK inhibitor AMP945 is funded and about to commence,” he said.
“This loan allows us to kick-start work on a second asset, AMP886, earlier and more aggressively than originally planned. We are very grateful to Invest Victoria for their support.”
Amplia Therapeutics is up 2.9 per cent, trading at 18 cents at 12:40 pm AEDT.