Immuron Receives $1.59M R&D Tax Concession Refund

This refund reflects the Company’s $3.6M investment in research and development expenditure during the 2016 Financial Year toward the development of the Company’s pipeline programs including IMM-124E in NASH and ASH, IMM-529 in C. difficile, as well as the continuous development of the Company’s existing Travelan/Protectyn programs.

Immuron CEO Mr Thomas Liquard commented:

“We are grateful that the Australian Government is such a strong supporter of the development of early-stage biotechnology companies through the R&D Tax Concession initiative scheme. This cash refund scheme has allowed Immuron the opportunity to accelerate the clinical development timelines for a number of its high-value pipeline programs.”

The Company anticipates that its ongoing research and development programs, including components of its fatty-liver disease programs, will continue to be eligible for the Research and Development Income Tax Concession refund incentive program for the 2017 financial year.

About Immuron:

Immuron Ltd (ASX:IMC); (OTCQB: IMROY) is a microbiome company focused on developing and commercialising oral immunotherapeutics for the treatment of many gut mediated diseases. Immuron has a unique and safe technology platform that enables a shorter development therapeutic cycle. The Company currently markets and sells Travelan® for the prevention of travellers’ diarrhoea, whilst its lead product candidate IMM-124E is in Phase 2b clinical trials for NASH and ASH. These products together with the Company’s other preclinical immunotherapy pipeline products targeting immune-related diseases currently under development, will meet a large unmet need in the market.

For more information, visit: https://www.immuron.com/

Company Contact:
Thomas Liquard
Chief Executive Officer
Ph: +61 (0)3 9824 5254
thomasliquard@immuron.com
Immuron Media Relations:
John Beveridge
Monsoon Communications
Ph: +61 (0)3 9620 3333
johnb@monsoon.com.au