Viralytics Receives $6.4m RD Tax Incentive

Viralytics Limited (ASX: VLA, OTC: VRACY) has received $6.4 million from the Australian Taxation Office under the Research and Development Tax Incentive Programme relating to the financial year ending 30 June 2017.

With receipt of these funds, and the investment by Lepu Medical Group announced on 5 January, the company has more than $57 million in total cash which can fund current and planned clinical activities into 2020.

Viralytics Managing Director Malcolm McColl commented, “Clinical data on the three active combination trials continues to impress. The potentially transformative KEYNOTE-200 trial, where CAVATAK is delivered by intravenous administration, is forecast to complete enrolment in early 2018 with a further update on trial results to be reported in Q2 2018. We are excited by the recently announced investment by Lepu Medical Group and remain confident in the commercial potential based on our current body of data while also seeking to demonstrate potential in further substantial oncology markets.”


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