Opthea Limited Secures A$10.8 Million Australian R&D Tax Incentive to Advance Sozinibercept Development
Reuters
Oct 06
<a href="https://laohu8.com/S/CKDXF">Opthea Limited</a> Secures A$10.8 Million Australian R&D Tax Incentive to Advance Sozinibercept Development
Opthea Limited (ASX/NASDAQ: OPT) has announced the receipt of an A$10.8 million (US$7.2 million) research and development (R&D) tax incentive from the Australian Taxation Office. The incentive, awarded under the Australian Federal Government's R&D Tax Incentive program, supports eligible R&D expenditure for the 2024/2025 financial year, including both Australian and overseas costs related to the development of Opthea's lead candidate, sozinibercept. The funding is exclusive to Opthea Limited and is designed to encourage innovation and advance the company's clinical pipeline. Opthea's Executive Chairman, Jeremy Levin, highlighted the importance of the program in supporting the company's strategic initiatives and reaffirmed a commitment to fiscal discipline while advancing therapeutic development.
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