- Zelira Therapeutics (ZLD) has received a $1.29 million cash refund under the Federal Government’s research and development tax incentive scheme.
- The cash was part of a program under which companies receive refunds for eligible expenditure on research and development
- Zelira said the funds will be used to support the growth of its recently launched products, including treatments for insomnia, autism, and a new CBD-Toothpaste
- The share price was up 3.1 per cent, trading at 3.3 cents at 11:45 am AEDT
Zelira Therapeutics (ZLD) has received a $1.29 million cash refund under the Federal Government’s research and development tax incentive scheme.
Zerlia Therapeutics is a global biopharmaceutical company which manufactures and markets cannabinoid-based medicines.
The cash was granted as part of a federal government program under which companies receive refunds of 43.5 per cent of eligible expenditure on research and development.
Zelira said the funds will be used to support the growth in recently launched products.
These include Zenivol, a cannabinoid-based medicine for treatment of chronic insomnia, HOPE for autism spectrum disorder symptoms, and a new CBD-Toothpaste which has been marketed to eliminate decay-causing bacteria, reduce gum inflammation and restore pH balance.
The funds will also be used to advance Zelira’s ongoing clinical and product development programs, marketing them globally.
The company recently expanded into the New Zealand market through a five-year exclusive distribution agreement with NUBU Pharmaceuticals, NZ’s largest medicinal cannabis distribution company.
Zelira Therapeutics was up 3.1 per cent, trading at 3.3 cents at 11:45 am AEDT.