Orthocell receives $3.05m R&D tax incentive refund

15 April 2024
Posted in Company News
15 April 2024 Orthocell

Orthocell has announced that it has received a Research and Development (R&D) Tax Incentive refund of A$3,051,483 for the financial year 2022/2023.

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 48.5% of eligible expenditure on R&D activities.

Following the recent $3.5 million strategic placement and receipt of the R&D Tax rebate, Orthocell is well funded for its current global market expansion strategy and beyond, with a primary focus on the pivotal US product registration for Remplir™ expected in Q1 CY25.

Orthocell Chair, John Van Der Wielen, said:

“I’m energised by the path forward for this Company and look forward to assisting the team to execute its global market expansion strategy – which includes accelerating the Remplir™ nerve repair US market access program and OrthoATI™ partnering activities in the USA. We remain resolutely focused on execution now, to scale the reach and impact of these world-class medical products – a milestone for Australia’s innovation sector at large.”

Click here to read the ASX release.