NeuroScientific Biopharmaceuticals R&D Tax Incentive Refund Announcement

NeuroScientific Biopharmaceuticals Ltd (ASX: $NSB) has received a $2,211,829 R&D tax incentive refund for the 2022/2023 financial year. The Australian Government program provides cash refunds of 18.5% above the company's marginal tax rate, totaling 48.5% for NSB, for eligible expenditure on research and development.

NeuroScientific Chairman's Gratitude for Government Support

We are sincerely grateful for the Australian Federal Government's support of Australian research and development. This refund strengthens NeuroScientific's financial position as we continue our R&D programs in support of EmtinB, a novel, peptide-based drug that targets neurodegenerative conditions such as glaucoma.

Summary of NeuroScientific's R&D Tax Incentive Refund

NeuroScientific Biopharmaceuticals (ASX: $NSB) has received a $2.2 million R&D tax incentive refund for the 2022/2023 financial year, enhancing the company's financial position. The refund supports NeuroScientific's ongoing R&D programs, particularly for EmtinB, a peptide-based drug targeting neurodegenerative conditions like glaucoma. The company expresses gratitude for the Australian Federal Government's support and emphasizes its commitment to advancing research and development initiatives.