Cynata Receives $930k R&D Tax Incentive Refund
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Released
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ASX ANNOUNCEMENT
Cynata Receives $930k R&D Tax Incentive Refund
Melbourne, Australia; 16 February 2016: Australian stem cell and regenerative medicine company,
Cynata Therapeutics Ltd (ASX: CYP), is pleased to announce that the Company has received an R&D
Tax Incentive refund of $932,580.65 for the 2014/2015 financial year.
“The R&D Tax Incentive is an important program and this refund provides a very useful addition to
the Company’s balance sheet and extends our operating runway at a time when we plan to soon
commence the clinical trial of our first proprietary Cymerus™ mesenchymal stem cell (MSC) product,
CYP-001”, said Dr Ross Macdonald, Cynata’s Chief Executive Officer.
The R&D Tax Incentive is an Australian Government program under which companies receive cash
refunds of 45% of eligible expenditure on research and development.
About Cynata Therapeutics (ASX: CYP)
Cynata Therapeutics Limited (ASX: CYP) is an Australian stem cell and regenerative medicine company that is developing a
therapeutic stem cell platform technology, Cymerus™, originating from the University of Wisconsin-Madison, a world leader
in stem cell research. The proprietary Cymerus™ technology addresses a critical shortcoming in existing methods of
production of mesenchymal stem cells (MSCs) for therapeutic use, which is the ability to achieve economic manufacture at
commercial scale. Cymerus™ does so through the production of a particular type of MSC precursor, called a
mesenchymoangioblast (MCA). The Cymerus™ MCA platform provides a source of MSCs that is independent of donor
limitations and provides a potential “off-the-shelf” stem cell platform for therapeutic product use, with a pharmaceutical
business model and economies of scale. This has the potential to create a new standard in the emergent arena of stem cell
therapeutics and provides both a unique differentiator and an important competitive position.
CONTACTS:
Dr Ross Macdonald, CEO: Tel: 0412 119343; email ross.macdonald@cynata.com
Dr Stewart Washer, Executive Chairman: Tel: 0418 288212; email stewart.washer@cynata.com
Kirin Smith, Chief Operations Officer, Investor Contact, + 1 646-863-6519, ksmith@pcgadvisory.com
Sean Leous, Chief Communications Officer, Media Contact, +1 646-863-8998, sleous@pcgadvisory.com
Rudi Michelson, Monsoon, Australia Media Contact, 0411 402 737, rudim@monsoon.com.au
Cynata Therapeutics Limited – Suite 1, 1233 High Street, Armadale, Victoria 3143 - PO Box 7165, Hawthorn
North, Victoria 3122 T: + 613 9824 5254 F: + 613 9822 7735 E: admin@cynata.com
W: www.cynata.com ABN - 98 104 037 372
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