Microba receives $6 million R&D Tax Incentive Refund
Released
Released
Announcement PDF
ASX Announcement
18 November 2024
Microba receives $6 million R&D Tax Incentive Refund
•
$6 million R&D Tax Incentive Refund received for Research & Development Activities conducted during
FY24
•
The FY24 R&D Tax Incentive adds to Microba’s strong financial position of $16.4 million in Cash or
equivalents reported at the end of Q1 FY25
Microba Life Sciences Limited (ASX: MAP) (“Microba”), a company at the forefront of microbiome diagnostics & therapeutics, is
pleased to announce that the Company has received a $6,019,829 Research & Development (R&D) Tax Incentive refund relating
to R&D activities completed in the 2023/2024 financial year. The Australian Government’s R&D Tax Incentive program provides
companies with a 43.5% refundable tax offset for eligible R&D activities.
In addition to Microba’s Australian R&D activities being eligible for the R&D Tax Incentive, Microba has also received four separate
Advanced Overseas Findings from AusIndustry, which pre-approve eligible overseas expenditure for research and development
activities across its Inflammatory Bowel Disease (IBD) and Autoimmune Diseases therapeutic programs. These four Advanced
Overseas Findings cover total eligible overseas expenditure across FY22, FY23, FY24 and FY25.
Microba’s Chief Executive Officer, Dr. Luke Reid, expressed his appreciation for the receipt of the R&D Tax Incentive, stating, “We
strongly value the Australian Government’s continued support through the R&D Tax Incentive Program. This initiative is
instrumental in enabling Microba to advance our pipeline of clinical-stage therapeutics and innovative diagnostic gastrointestinal
tests. As we progress these programs, we are confident in their potential to significantly improve the health and wellbeing of
Australians.”
View this announcement on our Investor Hub: https://ir.microba.com/link/oPBzQP
This announcement has been authorised for release by the Chair and Chief Executive Officer.
For further information, please contact:
Dr Luke Reid
Chief Executive Officer
luke.reid@microba.com
Investor / Media Relations
investor@microba.com
https://ir.microba.com/welcome
About Microba Life Sciences Limited
Microba Life Sciences is a company at the forefront of microbiome diagnostics & therapeutics and are on a mission to
improve human health. With world-leading technology for measuring the human gut microbiome, Microba is driving the
discovery and development of novel therapeutics for major chronic diseases and delivering gut microbiome testing services
globally to researchers, clinicians, and consumers. Through partnerships with leading organisations, Microba is powering
the discovery of new relationships between the microbiome, health and disease for the development of new health
solutions. For more information visit www.microba.com
JOIN MICROBA’S INTERACTIVE INVESTOR HUB
For more Company information and to engage with management by asking questions about Microba’s latest
announcements and updates, visit ir.microba.com/welcome
Microba Life Sciences Ltd | ABN 82 617 096 652 | L10, 324 Queen Street, Brisbane QLD 4000 Australia | 1300 974 621
Share your feedback
Discover