- Biotech company Immutep (IMM) has received €2,173,454 (roughly A$3.6 million) from the French Government
- The funds come from a research and development (R&D) tax incentive payment
- The French Research Tax Credit gives a 30 per cent reimbursement to French companies for research and development activities in Europe
- Immutep qualifies to receive the tax incentive through its subsidiary, which has a laboratory in southwest Paris
- Funds from the incentive will be used to support Immutep’s metastatic breast cancer treatment and the development of its IMP761 drug for autoimmune diseases
- Immutep is up 1.08 per cent on the market this morning, selling shares for 19 cents each
Biotech company, Immutep (IMM) has received $3.6 million (€2,173,454) from the French Government.
The funds come from a research and development (R&D) tax incentive payment, under Immutep’s Crédit d’Impôt Recherche (CIR) scheme.
Crédit d’Impôt Recherche means Research Tax Credit and is a French Government tax incentive, which gives a 30 per cent reimbursement to French companies for research and development activities in Europe.
Immutep qualifies to receive the tax incentive through its subsidiary, Immutep S.A.S., as it has a laboratory at Châtenay-Malabry in southwest Paris.
Funds from the incentive will be used to support Immutep’s metastatic breast cancer treatment and the development of its IMP761 drug for autoimmune diseases.
The former treatment, efti, is an anti-cancer drug that is designed to treat the most advanced stage of breast cancer. Earlier this month, efti was granted a patent from the Japanese Patent Office.
Immutep is up 1.08 per cent on the market this morning, selling shares for 19 cents each at 11:06 am AEST.