Immutep Receives A$3.4 million R&D Tax Incentive from French Government
Immutep Limited (ASX: IMM; NASDAQ: IMMP) has announced a significant cash boost of €2,126,617 (~ A$3,430,952) from the French Government via its Crédit d’Impôt Recherche scheme. This R&D tax incentive benefits the company’s European research efforts conducted during the 2020 calendar year. Additionally, Immutep received a A$1,155,055 rebate from the Australian Federal Government for similar activities. The funds will aid in the global clinical development of eftilagimod alpha and the preclinical development of IMP761.
- Received €2,126,617 (~ A$3,430,952) R&D tax incentive from the French Government.
- A$1,155,055 cash rebate received from the Australian Government for R&D activities.
- Funds will support clinical development of eftilagimod alpha and IMP761.
- None.
SYDNEY, AUSTRALIA, Sept. 29, 2021 (GLOBE NEWSWIRE) -- Immutep Limited (ASX: IMM; NASDAQ: IMMP) ("Immutep“ or “the Company”), a biotechnology company developing novel LAG-3 related immunotherapy treatments for cancer and autoimmune diseases, is pleased to announce it has received a
The “Crédit d’Impôt Recherche” (CIR), meaning “Research Tax Credit”, is a French government tax incentive by which French companies conducting research and development activities in Europe can be reimbursed
Immutep qualifies to receive CIR tax incentive through its subsidiary Immutep S.A.S. due to the research and development conducted in its laboratory at Châtenay-Malabry in southwestern Paris. The cash payment is provided in respect of expenditure incurred on eligible R&D activities conducted in European Union in the 2020 calendar year. Immutep also qualifies for cash rebates from the Australian Federal Government’s R&D tax incentive program in respect of expenditure incurred on eligible R&D activities conducted in Australia. In April 2021, the Company received a A
The funds will be used to support the ongoing and planned global clinical development of eftilagimod alpha and the preclinical development of IMP761.
About Immutep
Immutep is a globally active biotechnology company that is a leader in the development of LAG-3 related immunotherapeutic products for the treatment of cancer and autoimmune disease. Immutep is dedicated to leveraging its technology and expertise to bring innovative treatment options to market for patients and to maximize value to shareholders. Immutep is listed on the Australian Securities Exchange (IMM), and on the NASDAQ (IMMP) in the United States.
Immutep’s current lead product candidate is eftilagimod alpha (“efti” or “IMP321”), a soluble LAG-3 fusion protein (LAG-3Ig), which is a first-in-class antigen presenting cell (APC) activator being explored in cancer and infectious disease. Immutep is also developing an agonist of LAG-3 (IMP761) for autoimmune disease. Additional LAG-3 products, including antibodies for immune response modulation, are being developed by Immutep’s large pharmaceutical partners.
Further information can be found on the Company’s website www.immutep.com or by contacting:
Australian Investors/Media:
Catherine Strong, Citadel-MAGNUS
+61 (0)406 759 268; cstrong@citadelmagnus.com
U.S. Media:
Tim McCarthy, LifeSci Advisors
+1 (212) 915.2564; tim@lifesciadvisors.com
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