Benitec Receives Federal R&D Tax Credit

Benitec Biopharma (ASX:BLT, NASDAQ:BNTC, NASDAQ:BNTCW) received a total of $5,590,235 as a cash refund under an R&D tax credit.
As quoted in the press release:

The refund relates to the costs of research and development which qualify as eligible R&D expenditure under the Federal Government’s Scheme. The funds will be used to advance Benitec’s human therapeutic programs in gene silencing.
About Benitec Biopharma Limited: Benitec Biopharma Limited (ASX: BLT; NASDAQ: BNTC; NASDAQ: BNTCW) is a biotechnology company developing innovative therapeutics based on its patented gene-silencing technology called ddRNAi or ‘expressed RNAi’. Based in Sydney, Australia with laboratories in Hayward, California (USA), and collaborators and licensees around the world, the company is developing ddRNAi-based therapeutics for chronic and life-threatening human conditions including hepatitis B, wet age-related macular degeneration and OPMD. Benitec has also licensed ddRNAi to other biopharmaceutical companies for applications including HIV/AIDS, Huntington’s Disease, chronic neuropathic pain and retinitis pigmentosa.

Click here to read the full press release.