| ASX ANNOUNCEMENT | 15 November 2016 |
Melbourne, Australia; 15 November 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 $1,748,873.70 for the 2015/2016 financial year.
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.
| 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 | |
| Rudi Michelson, Monsoon, Australia Media Contact, 0411 402 737, rudim@monsoon.com.au |
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™ utilises induced pluripotent stem cells (iPSCs) to produce a particular type of MSC precursor, called a mesenchymoangioblast (MCA). The Cymerus™ platform provides a source of MSCs that is independent of donor limitations and provides an "off-the-shelf" stem cell platform for therapeutic product use, with a pharmaceutical product 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.
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