Microba Life Sciences (ASX: $MAP) R&D Tax Incentive Refund Announcement

Microba Life Sciences Limited (ASX: $MAP) has received a $6,089,165 Research & Development (R&D) Tax Incentive refund for the R&D activities completed during the 2022/2023 financial year. As of 31 December 2023, the company holds a strong financial position with $27.85 million in cash or equivalents.

Executive Commentary on R&D Tax Incentive Refund

We sincerely appreciate this ongoing support from the Australian Government. We believe that Microba's clinical stage therapeutics and diagnostic gastrointestinal tests can make a positive impact on Australian lives in the future, and the R&D Tax Incentive Program is assisting Microba to make this a reality.

Summary of Microba Life Sciences (ASX: $MAP) R&D Tax Incentive Refund

Microba Life Sciences Limited (ASX: $MAP) has received a significant $6,089,165 Research & Development (R&D) Tax Incentive refund for the R&D activities completed during the 2022/2023 financial year. This refund adds to the company's strong financial position of $27.85 million in cash or equivalents as of 31 December 2023. The Australian Government's R&D Tax Incentive program provides companies with a 43.5% refundable tax offset for eligible R&D activities. Microba's Chief Executive Officer, Dr. Luke Reid, expressed gratitude for the ongoing support from the Australian Government and highlighted the potential positive impact of Microba's clinical stage therapeutics and diagnostic gastrointestinal tests on Australian lives. The company's focus on driving the discovery and development of novel therapeutics for major chronic diseases and delivering gut microbiome testing services globally reflects its commitment to improving human health.