- NeuroScientific Biopharmaceuticals (NSB) pockets a $3.7 million tax refund from the Australian Federal Government.
- The company received the government incentive payment for research and development undertaken during the 2021/2022 financial year
- NSB says the refund will be reinvested into its preclinical and clinical research programs currently being undertaken to support the commercialisation of its lead drug candidate, EmtinB
- NeuroScientific Biopharmaceuticals is up 1.02 per cent and trading at 9.9 cents at 3:29 pm AEDT
NeuroScientific Biopharmaceuticals (NSB) has pocketed a $3.7 million tax incentive refund from the Australian Federal Government.
The company received the government payout for research and development (R&D) activities undertaken during the 2021/2022 financial year.
The government incentive program offers cash refunds for up to 43.5 per cent of eligible expenditure on research and development.
NSB said it would reinvest the refund into its preclinical and clinical research programs currently being undertaken to support the commercialisation of its lead drug candidate, EmtinB.
EmtinB is a peptide-based compound that binds to surface-based cell receptors and activates intracellular signalling pathways that stimulate neuroprotection, neuroregeneration and modulate neuroinflammation.
NSB’s preclinical research established that EmtinB is safe and well tolerated at high concentrations and is able to penetrate the blood-brain barrier.
A series of phase one clinical studies are now being planned to establish the safety profile of EmtinB in humans.
NeuroScientific Biopharmaceuticals was up 1.02 per cent and trading at 9.9 cents at 3:29 pm AEDT.