Arovella Therapeutics Ltd (ASX: ALA), a biotechnology company focused on developing its invariant Natural Killer T (iNKT) cell therapy platform, is pleased to announce that it has received its FY2023 R&D Tax Incentive refund of $1.94 million. These funds further strengthen Arovella’s cash position ($5.3 million at 30 September 2023) as it progresses development of its lead asset, ALA-101, towards first-in-human clinical trials.
CEO and Managing Director, Dr Michael Baker, commented “The R&D Tax Incentive scheme provides valuable support for companies such as Arovella and we look forward to using these funds to advance our programs towards the clinic.”
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