Zelira Therapeutics (ASX:ZLD) has received a $1.15 million cash refund under the Australian Federal Government’s Research and Development (R&D) Tax Incentive Scheme, which will be used to support the company’s clinical development programs and business operations.
The biopharmaceutical company specialises in developing clinically validated cannabinoid-based medicines, including treatments for insomnia, autism, and chronic non-cancer pain. Zelira’s proprietary product pipeline includes prescription medicines and over-the-counter (OTC) products, generating revenue across Australia and international markets.
Zelira is progressing FDA clinical trials for its proprietary HOPE® 1 medication through a special purpose vehicle (SPV), where it holds a 55% equity stake. Investors have contributed approximately US$35 million to fund the trials.
The company has also expanded commercialisation efforts, including launching ZENIVOL®, a clinically validated cannabinoid drug for chronic insomnia, into Germany through partner Adjupharm GmbH. Additionally, its oral and dermatology health care products, developed in partnership with SprinJeneCBD, continue to generate revenue in the US.
