Actinogen Medical boosts funding with tax rebate

Actinogen Medical (ASX: ACW) has received a substantial $9 million R&D tax incentive rebate from the Australian Tax Office for the 2024 financial year. This influx of funds, combined with existing capital, extends the company's financial runway to mid-2026. It ensures continued support for their Alzheimer's phase 2b/3 clinical trial, which includes 220 participants.

Actinogen Medical's strategic developments and research focus

Actinogen Medical has strategically secured a $9 million R&D tax incentive rebate, extending their financial runway to mid-2026. This ensures the progression of their Alzheimer's phase 2b/3 clinical trial, which aims to assess the efficacy of Xanamem, a therapy targeting brain cortisol regulation. The company remains committed to exploring Xanamem's potential in treating neurological and psychiatric conditions such as Alzheimer's Disease, Depression, and Fragile X Syndrome. With promising results from previous trials, Actinogen continues its mission to develop innovative therapies to enhance cognitive health and address unmet medical needs in these areas. The company also emphasizes the importance of shareholder engagement through electronic updates to promote sustainability.

Executive insights on tax rebate and future plans

The R&D tax incentive is a vital part of our funding strategy, as it provides essential cash flow to continue our clinical trials and research initiatives. This rebate allows us to focus on our critical trials, particularly the Alzheimer's phase 2b/3 trial, which is a significant step towards bringing Xanamem to market for patients in need.