Australian-based bio-separations and reproductive biotechnology company Memphasys Limited (ASX: MEM) has been granted a $1.36 million tax rebate following the submission of its 2021 R&D Tax Incentive claim.
The R&D Tax Incentive scheme is a programme, jointly administered by the Australian Taxation Office and AusIndustry, under which companies can receive a refundable tax offset of eligible expenses on research and development activities.
The rebate follows the company’s continued research and development activity into bio-separations and reproductive biotechnology, including the FelixTMdevice for improved human IVF treatments, as well as its accelerating portfolio of novel reproductive biotechnology products targeting high-value commercial applications.
In addition, Memphasys has been successfully granted a patent by the China National Intellectual Property Administration (CNIPA) for sperm separation by electrophoresis.
The patent (No: ZL 201780078498.5) further strengthens Memphasys’ intellectual property rights and is the Company’s first granted patent in China, the largest IVF market in the world.
Memphasys maintains strong protection for its unique bio-separations technology owning patents as well as several pending patent applications in regions such as the United States, Europe, Australia and various Asian countries.