Proactive Investors - Run By Investors For Investors

Cellmid banks research and development tax incentive

Cellmid’s consumer health segment generates revenue by selling anti-ageing functional cosmetics and consumer health products.
cosmetics
The company is closing in on profitability.

Cellmid Limited (ASX:CDY) has received $808,000 from the Australian Taxation Office under the Research and Development Tax Incentive Scheme for the 2018 financial year.

The tax credit relates to research and development expenditure incurred by Cellmid in relation to its midkine (MK) and FGF5 inhibitor programs.

Cellmid’s évolis® hair growth product range was developed using FGF5 related intellectual property.

The company aims to follow in the footsteps of FGF5 by commercialising its MK portfolio through various deals and partnerships.

READ: Cellmid driving towards profitability with anti-ageing product range

Cellmid’s consumer health segment generates revenue by selling anti-ageing functional cosmetics and consumer health products for hair, face and wellbeing.

The segment generated $5.64 million in revenue in FY2018 and as Cellmid expands its product range and selling markets, it is closing in on profitability.

View full CDY profile View Profile

Cellmid Ltd Timeline

Related Articles

A man's knee pain is highlighted with a red area that points to inflammation
January 23 2019
The injectable PPS trial has had a clinically meaningful and statistically significant result in patients with arthritic knee pain.
Lung X-Ray
October 22 2018
In its recent half-year results, the medical research investor recorded a loss after tax of £4.6mln in the six months ended June 30, less than the £5.2mln loss a year ago
knee physio
February 19 2019
Results from an eight-year clinical extension study showed that ChondroMimetic was able to regenerate cartilage to a structural quality almost identical to native cartilage

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use