Prima BioMed Receives A$492,144 Tax Refund From Australian Government
12 Abril 2017 - 5:25AM
Prima BioMed Ltd (ASX:PRR) (NASDAQ:PBMD) (“Prima” or the
“Company”), is pleased to announce that it has received a A$492,144
cash rebate from the Australian Federal Government’s R&D tax
incentive program. The cash rebate provided in respect of
expenditure incurred on eligible R&D activities conducted in
the 2016 fiscal year, mainly related to the Company’s TACTI-mel
trial, a Phase I clinical study in melanoma using its lead compound
IMP321, conducted in Australia.
This follows approval from AusIndustry of Prima’s application
for an Advance/Overseas Finding. Due to the Advance Finding,
Prima’s projected research and development activities for TACTI-mel
in both Australia and overseas are eligible for the R&D Tax
Incentive for a period of three years to 30 June 2018.
Prima BioMed will apply the funding towards furthering its
current active clinical trial program for lead product, IMP321.
About Prima BioMed
Prima BioMed is listed on the Australian Securities Exchange and
on the NASDAQ in the US. For further information please visit
www.primabiomed.com.au.
For further information please contact:
Australian Investors/Media:
Mr Matthew Gregorowski, Citadel-MAGNUS
+61 (0) 422 534 755; mgregorowski@citadelmagnus.com
U.S. Investors:
Matthew Beck, The Trout Group LLC
+1 (646) 378-2933; mbeck@troutgroup.com
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