Bionomics Receives R&D Tax Incentive Refund for FY2022 of A$4.6 million

Rhea-AI Summary

Bionomics Limited (Nasdaq: BNOX | ASX: BNO) has announced the receipt of A$4,634,307.30 in a research and development (R&D) tax incentive refund for the financial year ending June 2022. This incentive, provided by the Australian Government, offers a tax offset of up to 43.5% for eligible R&D activities to encourage innovation within Australia. Bionomics is a clinical-stage biopharmaceutical company focused on developing treatments for serious central nervous system disorders, including its lead candidate BNC210 for Social Anxiety Disorder and Post-Traumatic Stress Disorder.

Positive

• Received A$4,634,307.30 R&D tax incentive refund.
• The R&D tax incentive provides up to 43.5% refundable tax offset.
• Strong focus on developing innovative CNS disorder treatments.

Negative

• None.

ADELAIDE, Australia, Oct. 18, 2022 (GLOBE NEWSWIRE) -- Bionomics Limited (Nasdaq: BNOX | ASX: BNO) (Bionomics or Company), a clinical stage biopharmaceutical company, is pleased to announce that the Company has received A$4,634,307.30 research and development (R&D) tax incentive refund relating to the financial year ended June 2022.

The Australian Government R&D tax incentive encourages companies to engage in R&D benefiting Australia, by providing a tax offset of up to 43.5% (refundable) for eligible R&D activities.

FOR FURTHER INFORMATION PLEASE CONTACT:

Investor Relations Mr. Connor Bernstein Vice President, Strategy and Corporate Development cbernstein@bionomics.com.au

Investor Relations Kevin Gardner kgardner@lifesciadvisors.com

About Bionomics Limited
Bionomics (ASX:BNO, NASDAQ:BNOX) is a clinical-stage biopharmaceutical company developing novel, allosteric ion channel modulators designed to transform the lives of patients suffering from serious central nervous system (CNS) disorders with high unmet medical need. Bionomics is advancing its lead drug candidate, BNC210, an oral, proprietary, selective negative allosteric modulator of the α7 nicotinic acetylcholine receptor, for the acute treatment of Social Anxiety Disorder (SAD) and chronic treatment of Post-Traumatic Stress Disorder (PTSD). Beyond BNC210, Bionomics has a strategic partnership with Merck & Co., Inc (known as MSD outside the United States and Canada) with two drugs in early-stage clinical trials for the treatment of cognitive deficits in Alzheimer’s disease and other central nervous system conditions.

www.bionomics.com.au

FAQ

What was the amount of the R&D tax incentive refund received by Bionomics?

Bionomics received A$4,634,307.30 as an R&D tax incentive refund.

What is the purpose of the Australian Government R&D tax incentive?

The R&D tax incentive encourages companies to engage in research and development in Australia by providing a tax offset.

What financial year does the R&D tax incentive refund relate to for Bionomics?

The refund relates to the financial year ended June 2022.

What is Bionomics' lead drug candidate?

Bionomics' lead drug candidate is BNC210, targeting Social Anxiety Disorder and Post-Traumatic Stress Disorder.