- Anteris Technology (AVR) has entered a $1.2 million lending facility in advance of an upcoming research and development tax incentive
- The short-term facility is an immediate equivalent to the refund it expects from the Australia government in 2021
- The government incentive provides a refundable tax offset for eligible research and development activities by Australian businesses
- Most notably, funding is hoped to speed up the development of its DurAVRTM, Anteris’ 3D single-piece Aortic Valve which has shown promising early research findings
- The company is currently in a trading halt as per an announcement on December 23
- Anteris shares last traded at $3.75 each
Anteris Technology has entered a $1,220,000 million lending facility ahead of an upcoming research and development tax incentive.
The short-term facility is an immediate equivalent to an Australian government tax incentive refund Anteris expected in 2021.
The government incentive provides a refundable tax offset for eligible research and development activities by Australian businesses with an aggregated turnover of less than $20 million.
The advance is primarily secured against the research and development refund expected in 2021 for the 10 months ended October 31, 2021.
Mitchell Asset Management is providing the loan facility.
A company statement says the facility confirms its significant and ongoing commitment to invest in research and develop its ADAPT heart tissue technologies.
Funding is hoped to speed up the development of its DurAVRTM, Anteris’ 3D single-piece Aortic Valve, which has shown promising early research findings.
The company is currently in a trading halt as per an announcement on December 23, the announcement does not lift the current trading halt.
Anteris shares last traded at $3.75 each.