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Neuroscientific Biopharmaceuticals Ltd (ASX:NSB) has received an R&D Tax Incentive refund of approximately $1,134,710, from the Australian Federal Government.

The refund related to eligible R&D activities undertaken by the company during the 2020/2021 financial year.

Following the receipt of this refund, the company now has capital reserves of approximately $6.34 million.

The $1,134,710 refund will be reinvested into the preclinical and clinical R&D programmes currently being undertaken to support the commercialisation of NeuroScientific’s lead drug candidate EmtinB.

The R&D Tax Incentive is an Australian Government programme under which companies receive cash refunds for 43.5% of eligible expenditure on research and development.

https://neuroscientific.com/

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