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- ResApp Health (RAP) has received nearly $2 million from its research and development (R&D) tax incentive
- CEO Tony Keating is grateful for the Federal Government’s continued support of R&D by Australian companies
- ResApp is down 2.04 per cent on the market today and is trading at 24¢ apiece
ResApp Health (RAP) has received $1.8 million from its research and development (R&D) tax incentive.
The Australian Federal Government’s R&D tax incentive program provides a cash refund on eligible research and development activities performed by Australian companies.
ResApp is a leading digital health company developing smartphone applications for the diagnosis and management of respiratory diseases. It uses machine learning algorithms that detect sound and thereby discover respiratory illnesses.
CEO Tony Keating is grateful for the Federal Government’s continued support of R&D by Australian companies.
“Over the past four years, the program has helped us invest in the continued development of our audio-based machine learning algorithms, resulting in the world’s first clinical-validated and regulatory approved smartphone application for acute respiratory diagnosis,” Tony said.
“This year’s rebate further strengthens our balance sheet and allows us to continue to invest resources and accelerate commercialisation,” he added.
Recently, ResApp entered an agreement with Coviu to integrate its respiratory app into the company’s telehealth software program.
ResApp is down 2.04 per cent on the market today and is trading at 24¢ apiece at 12:34 pm AEDT.
