PERTH, Australia, 11th January 2018: Phylogica Limited (ASX:PYC) (Phylogica or the Company), advises that it has received a $2,170,000 cash refund under the Federal Government’s R&D Tax Incentive Scheme.
The refund relates to the costs of research and development during the 2017 Financial Year which qualify as eligible R&D expenditure under the Federal Government’s Scheme.
The funds received will be used to advance Phylogica’s drug discovery research and development, utilising the Company’s Phylomer peptide libraries and proprietary screening capabilities.
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