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Zelda Therapeutics to use Federal Government R&D tax rebate of $769,000 to drive clinical trials

The Australian-based bio-pharmaceutical company has also formed a strategic relationship with European medicinal cannabis group HAPA Medical BV to access HAPA’s EU-GMP grade manufacturing capabilities.

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Shares last traded at 4.4 cents a share

Zelda Therapeutics Ltd (ASX:ZLD) will use the $769,000 cash refund it received under the Federal Government’s R&D Tax Incentive Scheme to accelerate current clinical trials as well as a pre-clinical program.

The R&D Tax Incentive Scheme is an Australian Government program where companies receive cash refunds of 43.5% if eligible expenditure is on research and development.

READ: Zelda Therapeutics to outline cannabinoid-based strategy at Proactive CEO sessions

The refund positions Zelda well as it advances its current:

  • Human clinical trial program – focused on insomnia, autism and opioid reduction with activities in Australia and the USA; and
  • Pre-clinical research program – examining the effect of cannabinoids in breast, brain and pancreatic cancer as well as research examining the potential for cannabinoids to treat diabetes-associated cognitive decline.

 

 

The company conducts this work in partnership with world-leading researchers and organisations such as Complutense University in Spain, Curtin University in Western Australia, the Telethon Kids Institute in Perth, the University of Western Australia and the Children’s Hospital of Philadelphia in the United States.

In March 2019 Zelda was awarded a patent to detect breast cancer, which details a method for detecting levels of expression of a novel receptor complex containing HER2 and CB2 (types of protein).

HER2 is a well-recognised marker of aggressive breast cancer while CB2 is a key receptor in the endocannabinoid system.

Quick facts: Zelira Therapeutics Ltd

Price: 0.058 AUD

ASX:ZLD
Market: ASX
Market Cap: $56.05 m
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Full interview: Zelira Therapeutics releases interim data for Phase II...

Zelira Therapeutics Ltd (ASX:ZLD) managing director Dr Richard Hopkins, chairman Osagie Imasogie and clinical trial principal investigator Professor Peter Eastwood, of the University of Western Australia, update Proactive on results from the company’s Phase II clinical trial of medicinal...

on 21/2/20

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