Receives A$1.5 million in R&D Tax Incentives
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: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.