The company will now repay the short-term facility entered into with Mitchell Asset Management Pty Ltd at the end of 2020 for the advance of $1.22 million, which provided immediate funds equivalent to its forecasted R&D tax incentive offset for the majority of the 2020 calendar year.
R&D tax incentive
The Australian Government’s R&D 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™, its 3D single-piece aortic valve.
Aortic replacement valve
The Anteris DurAVR™ aortic replacement valve addresses the acute need in terms of superior hemodynamic profile as well as chronic needs in its ability to sustain that profile longer over the lifetime of the patient.
The proven benefits of its ADAPT® tissue technology, paired with DurAVR™’s unique 3D single-piece aortic valve design, have the potential to deliver a functional cure to aortic stenosis patients and provide a much-needed solution to the challenges facing heart surgeons today.