Orthocell Receives A$2.3m R&D Tax Incentive Refund
Ph: +61 8 9360 2888 Fax: +61 8 9360 2899 www.orthocell.com.au Orthocell receives A$2.3m R&D tax incentive refund ? Orthocell receives R&D Tax Incentive refund of A$2.3m ? Funds will be invested into the Striate + partnering program, progression of CelGro® nerve repair regulatory approvals, and to advance the development and commercialisation of Ortho-ATI® ? Orthocell is well positioned to deliver leading regenerative medicine products to the world’s largest health care markets including US, EU and AUS. Perth, Australia; 20 January 2021: Australian-based regenerative medicine company, Orthocell Ltd (ASX:OCC, “Orthocell” or the “Company”), is pleased to announce that it has received a Research and Development (R&D) Tax Incentive refund of A$2,394,397 for the financial year 2019/2020. . Orthocell Managing Director, Paul Anderson, said: “Following the recent US approval of Striate + , the receipt of the R&D tax incentive refund further strengthens our capital position and enables us to progress the Striate + partnering program, CelGro® nerve repair regulatory approvals, and development and commercialisation of Ortho-ATI®, delivering significant shareholder value.” The R&D Tax Incentive is an Australian Government program to support Australian companies to undertake R&D activities in Australia, under which eligible companies can receive cash rebates of up to 43.5% of eligible expenditure on R&D activities. For more information, please contact: General & Investor enquiries Paul Anderson Orthocell Limited Managing Director P: +61 8 9360 2888 E: firstname.lastname@example.org Media enquiries Haley Chartres H^CK Director P: +61 423 139 163 E: email@example.com Ph: +61 8 9360 2888 Fax: +61 8 9360 2899 www.orthocell.com.au About Orthocell Limited Orthocell is a regenerative medicine company focused on regenerating mobility for patients by developing products for the repair of a variety of soft tissue injuries. Orthocell’s portfolio of products include CelGro®, a collagen medical device which facilitates tissue repair and healing in a variety of orthopaedic, reconstructive and surgical applications. Orthocell recently received European regulatory approval (CE Mark) for CelGro®. The collagen medical device can now be marketed and sold within the European Union for a range of dental bone and soft tissue regeneration procedures and is being readied for first approval in the US and AUS. The Company’s other major products are the TGA-licensed cell therapies Autologous Tenocyte Implantation (Ortho-ATI®) and Autologous Chondrocyte Implantation (Ortho-ACI®), which aim to regenerate damaged tendon and cartilage tissue. Orthocell is moving forward with clinical studies designed to assist in the US (FDA) approval process and has completed its pre-IND meetings with the FDA. For more information on Orthocell, please visit www.orthocell.com.au or follow us on Twitter @Orthocellltd and LinkedIn www.linkedin.com/company/orthocell-ltd Forward Looking Statement Any statements in this press release about future expectations, plans and prospects for the Company, the Company’s strategy, future operations, and other statements containing the words “anticipate,” “believe,” “estimate, ”expect,” “intend,” “may,” “plan,” “predict,” “project,” “target, ”potential,” “will,” “would,” “could,” “should,” “continue,” and similar expressions, constitute forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the Company’s ability to successfully develop its product candidates and timely complete its planned clinical programs and the Company’s ability to obtain marketing approvals for is product candidates. In addition, the forward-looking statements included in this press release represent the Company’s views as of the date hereof. The Company anticipates that subsequent events and developments will cause the Company’s views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date hereof.
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