PreveCeutical Receives AU$315,338 Research & Development Tax Incentive Cash Refund
Vancouver, British Columbia: PreveCeutical Medical Inc. (the “Company” or “PreveCeutical”) (CSE: PREV, OTCQB: PRVCF, FSE: 18H), is pleased to announce that it has received a AU$315,338 cash rebate from the Australian Federal Government’s Research and Development (“R&D”) Incentive Program. The cash refund is related to expenditure on eligible Australian R&D activities conducted during the financial year ended December 31, 2020. The R&D activities were across PreveCeutival’s portfolio, including the Sol-gel nose-to-brain drug delivery system and the non-addictive analgesics programs, conducted at the University of Queensland, Australia.
This funding will support and reinforce the Company’s continued investments in its R&D program, protecting the intellectual property derived from the programs, and developing marketable products.
The R&D tax incentive encourages companies to engage in R&D programs that have the potential to improve global health outcomes while generating economic benefits locally.
PreveCeutical’s Chair and Chief Executive Officer, Mr. Stephen Van Deventer, stated, “We appreciate the tax credit we have received. This continues to fund our research and development without dilution of the Company’s capital. This funding will add to our Company’s working capital and will go towards the patent, licenses and R&D costs.”
PreveCeutical is a health sciences company that develops innovative options for preventive and curative therapies utilizing organic and nature identical products.
PreveCeutical aims to be a leader in preventive health sciences. The Company’s current research and development programs include dual gene curative and preventive therapies for diabetes and obesity; the Cannabidiols Sol-gel Program aiming to provide relief across a range of indications from pain, inflammation, seizures, and neurological disorders;. Nature Identical™ peptides for the treatment of various ailments; non-addictive analgesic peptides as a replacement to the highly addictive analgesics such as morphine, fentanyl and oxycodone; and a therapeutic product for treating athletes who suffer from concussions (mild traumatic brain injury).
On behalf of the Board of Directors
Stephen Van Deventer, Chairman and Chief Executive Officer
For further information, please contact:
Stephen Van Deventer: +1 604 306 9669
Or, Investor Relations firstname.lastname@example.org
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