Patrys Limited (ASX:PAB) Receives R&D Tax Incentive Refund
R&D Tax Incentive Refund
Patrys Limited (ASX: PAB) announced a rebate of $1.285 million under the Federal Government’s R&D Tax Incentive scheme through its subsidiary, Nucleus Therapeutics Pty Ltd. This funding supports innovation and development in the company’s therapeutic antibody initiatives.
Dr. James Campbell, CEO and Managing Director of Patrys, emphasized the significance of this support, stating, “The R&D Tax Incentive Refund strengthens Patrys’ cash position and will be primarily used for ongoing technology development of the deoxymab platform, particularly pre-clinical development of PAT-DX3.”
Focus on Deoxymab Development
This incentive benefits the development costs associated with Patrys’ deoxymab program. The deoxymabs seek and kill cancer cells in animals by binding to fragments of DNA released during cell death. This approach allows Patrys the potential to effectively target a variety of cancer types, including hard-to-reach cancers like brain cancer.
Over recent years, extensive research has validated the efficacy of deoxymabs in treating inflammatory conditions. Patrys continues to expand its innovative approaches, potentially enhancing the treatment landscape for cancer and NETosis-driven inflammatory diseases.
Motley Fool contributor Lauren Surplice has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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