- Rhinomed (RNO) has received a research and development (R&D) tax incentive refund of more than $336,000 for the 2019 financial year
- This refund comes under the Australian Government’s Research and Development Incentive Program
- This sum reflects a R&D investment of more than $774,000 that was used to advance Rhinomed’s sleep and respiratory devices
- The company’s devices help improve the way people breathe, sleep, and medicate
- At market close Rhinomed is down 7.41 per cent and shares are trading for 7.5 cents each
Rhinomed (RNO) has received a research and development (R&D) tax incentive refund of $336,733 for the 2019 financial year.
This refund comes under the Australian Government’s Research and Development Incentive Program.
This amount reflects a R&D investment of $774,098 that was used to advance Rhinomed’s sleep and respiratory devices, including Pronto which has now been commercialised.
Rhinomed is a global leader in nasal, respiratory and breathing technologies and its products, Pronto, Mute, and Turbine, to target the sport, sleep, and well-being markets.
The company’s products help improve the way people breathe, sleep, and medicate.
Mute is a nasal dilator that’s designed to increase airflow and improve nasal breathing by gently opening the airways during sleep. It aims to prevent snoring and give people a much better sleep.
Turbine is Rhinomed’s breathing aid that is geared towards people playing sports or doing physical activities such as running. It is built differently to Mute as it needs to sit comfortably in the nose while the user is moving around.
Rhinomed’s last product Pronto is broken up into Pronto Sleep and Pronto Clear.
Pronto Sleep is a vapour inhaler that gently opens the nose and delivers a mixture of four essential oils which help the user relax and sleep better naturally.
Pronto Clear delivers six pure essential oils that naturally help clear a stuffy and congested nose.
At market close Rhinomed is down 7.41 per cent and shares are trading for 7.5 cents each in a $13.70 million market cap.