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Anteris Technologies receives $734,899 R&D tax incentive refund

The company has received a tax incentive for R&D costs incurred in developing its ADAPT® technology and products including the DurAVR™ 3D single-piece Aortic Valve.

Anteris Technologies Ltd - Anteris Technologies receives $734,899 research and development tax incentive refund
The claim covers the year ended December 31, 2019

Anteris Technologies Ltd (ASX:AVR) has received $734,899 under the Australian Government’s Research and Development (R&D) Tax Incentive Scheme.

This tax incentive encourages companies to engage in R&D by providing a refundable tax offset for eligible R&D activities, assisting businesses to recover some of their costs related to R&D.

The R&D refund confirms Anteris’ significant and ongoing commitment to invest in, research and develop its ADAPT® technology and product development pipeline including DurAVR™, Anteris’ 3D single-piece Aortic Valve.

Anteris plans to use these funds for further research and development activities.

DurAVR™ valve

The company’s DurAVR™ Transcatheter Heart Valve has recently commenced animal studies, being implanted into three pigs to confirm the valve’s deployment and fixation (anchoring) as well as providing insight into the valve’s haemodynamic function.

Anteris chief executive officer and managing director Wayne Paterson said: “The DurAVR™ valve continues to deliver superior performance observed to date.

“This preclinical study provides encouraging data and, importantly, will inform our development program and product design fine-tuning.”

This study is critical as the company moves toward the next phase of development as the lessons learned in this study will allow Anteris to make refinements to the frame and delivery system for the DurAVR™ aortic valve, which ultimately will be applied to the device used in the planned US FDA submission for a human clinical trial in 2021.

Quick facts: Anteris Technologies Ltd

Price: 3.3 AUD

ASX:AVR
Market: ASX
Market Cap: $19.5 m
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