Immutep Receives A$2.6 million R&D Tax Incentive from French Government
SYDNEY, AUSTRALIA, Dec. 07, 2023 (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 €1,595,475 (~ A$2,628,354 ) research and development (R&D) tax incentive payment in cash from the French Government under its Crédit d’Impôt Recherche scheme (CIR).
- 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 30% of their eligible expenditure.
- Immutep qualifies for the CIR tax incentive through its subsidiary Immutep S.A.S.
- 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.
- As previously announced, in October 2023, the company received an A$1.13 million cash rebate from the Australian Federal Government’s R&D tax incentive program for the eligible R&D activities conducted in financial year 2022.