Receives A$1.5 million in R&D Tax Incentives
Receives A$1.5 million in R&D Tax Incentives
Sydney, Oct 15, 2019 AEST (ABN Newswire) - Regeneus Ltd (ASX:RGS) (Regeneus or the Company), a clinical-stage regenerative medicine company, has received $1.5 million in R&D Tax Incentives from the Australian Tax Office for FY19.

The R&D tax incentive has facilitated the repayment in full of the $1.3 million Paddington Street loan and associated interest, along with enabling the release of Paddington Street's security over the Company's assets.

The repayment of the Paddington Street loan and the conversion of $1.4 million of the Directors' loan as part of the recent capital raising, has resulted in the significant reduction in borrowings, from $3.8 million at 30 June 2019 to presently only $1.1 million of Directors' loans.

Capital management remains a key focus as the Company works to bring Progenza to market in 2023.


About Regeneus Ltd

Regeneus Ltd ASX:RGSRegeneus Ltd (ASX:RGS) is a Sydney-based clinical-stage regenerative medicine company using stem cell technologies to develop a portfolio of novel cell-based therapies to address significant unmet medical needs in the human health markets with a focus on osteoarthritis and other musculoskeletal disorders, neuropathic pain and dermatology.

      


Contact

Investors
Sandra McIntosh
Company Secretary and Investor Relations
Regeneus Ltd
T: +61-2-9499-8010
E: investors@regeneus.com.au

Media
Daniel Paperny
Media and Capital Partners
T: +61-405-191-257
E: Daniel.paperny@mcpartners.com.au



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