Emyria Ltd (ASX:EMD) has boosted its finances on receiving an R&D Tax incentive refund of $1.162 million for the 2020/2021 financial year with the incentive part of a Federal Government program to support Australian companies to undertake R&D activities in Australia.
These funds are in addition to the $5 million received through a strategic investment this week from Tattarang – one of Australia’s largest private investment groups.
Promisingly, Emyria is in a strong cash position to accelerate the development of its cannabinoid, MDMA-assisted therapy and MDMA-analogue programs.
“Accelerate drug registration programs.”
Emyria managing director Dr Michael Winlo said: “Combined with the recent strategic investment from Tattarang, this R&D tax incentive refund strengthens Emyria’s capital position and enables us to accelerate our drug registration programs.
“We look forward to providing further updates to the market in due course.”
About Emyria
Emyria is a data-backed clinical drug development and care delivery company focused on accelerating treatment development and improving patient care.
The company’s treatments target unmet needs and are focused on obtaining approval from major global regulators.
Notably, Emyria’s recent strategic placement with Tattarang is now settled with shares being issued today in accordance with the agreement.