Microba Life Sciences benefits from R&D tax refund

Microba Life Sciences (ASX:MAP) has announced the receipt of a $6,019,829 R&D Tax Incentive refund for their 2023/2024 financial year activities. This refund, part of Australia's R&D Tax Incentive program, supports their strong financial position, with $16.4 million in cash by Q1 FY25.

Microba Life Sciences outlines strategic R&D initiatives

Microba Life Sciences (ASX:MAP) has strengthened its financial position with a $6,019,829 R&D Tax Incentive refund. This support aligns with Microba's strategic focus on advancing their Inflammatory Bowel Disease and Autoimmune Diseases therapeutic programs, aided by Advanced Overseas Findings from AusIndustry. The company's cash reserves of $16.4 million as of Q1 FY25 enable ongoing development of microbiome diagnostics and therapeutics. With global collaborations and technology measuring the human gut microbiome, Microba aims to drive innovation in chronic disease therapeutics. The company's CEO, Dr. Luke Reid, expresses confidence in the impact of their advancements, supported by the Australian Government's incentives.

CEO Dr. Luke Reid comments on refund significance

We are grateful for the R&D Tax Incentive, which plays a pivotal role in advancing Microba's clinical-stage therapeutics and innovative diagnostic tests. These programs have the potential to significantly enhance the health and well-being of Australians.