Actinogen (ASX: ACW) has received a $146,954 tax refund from the Australian Government’s Research and Development Tax Incentive Program.
Proceeds will be used to relocate its laboratory to new facilities, re-establish its scientific research team and working capital requirements for the continuation of the research and development of its focal projects.
Actinogen's aim is to identify and isolate soil microorganisms, known as actinomycetes, which are capable of producing bioactive compounds of commercial value.
These include bacterial antibiotics, anti-viral agents, anti-tumour agents, antifungal agents and immunosuppressive agents that are used for humans, animals and in agriculture.
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