Emyria Ltd (ASX:EMD) has strengthened its capital position after receiving a Research and Development (R&D) Tax Incentive refund of A$954,180 for the financial year 2019/2020.
The R&D Tax Incentive is an Australian Government program to support Australian companies to undertake R&D activities in Australia, under which eligible companies can receive cash rebates of up to 43.5% of eligible expenditure on R&D activities.
“Capital position strengthened”
Emyria managing director Dr Michael Winlo said: “Combined with the recent capital raising, the receipt of the R&D tax incentive refund further strengthens our capital position and enables us to accelerate our growth plans across our business to deliver significant shareholder value.”
From the funds received, the company has repaid the $259,638 drawn under its R&D credit facility with Radium Capital with the balance of the funds to be invested into accelerating the commercialisation of Emyria’s data products, technologies and supporting internal data analysis.
Emyria creates data products from robust and ethically sourced Real-World Evidence (RWE) gathered across its specialist clinical network - Emerald Clinics.
The data products – Emyria Registration and Emyria Pharmacovigilance - accelerate the development and registration of new and promising treatments for patients with unmet medical needs by providing unique, real-world insights into treatment safety, quality and efficacy.
Emyria’s data assets are also a source of unique IP for the company.