"The R&D tax rebate is an important source of non-dilutive capital and we appreciate the Australian government’s support as we develop our novel bacteriophage therapies aimed at combatting the growing global threat of antibiotic resistance"
SAN DIEGO--(BUSINESS WIRE)--AmpliPhi Biosciences Corporation (NYSE American: APHB), a clinical-stage biotechnology company focused on the development of therapies for antibiotic-resistant infections using bacteriophage technology, announces that it has received a Research and Development (R&D) Tax Incentive cash rebate of USD $2.0 million from the Australian Tax Office based on the Company’s R&D spending in Australia during 2016. The Company will recognize the $2.0 million payment received in its financial statements for the quarter ending September 30, 2017.
“The R&D tax rebate is an important source of non-dilutive capital and we appreciate the Australian government’s support as we develop our novel bacteriophage therapies aimed at combatting the growing global threat of antibiotic resistance,” said Paul C. Grint, M.D., CEO of AmpliPhi Biosciences.
About AmpliPhi Biosciences
AmpliPhi Biosciences Corporation is a clinical-stage biotechnology company focused on treating antibiotic-resistant infections using its proprietary bacteriophage-based technology. AmpliPhi’s lead product candidates target multidrug-resistant Staphylococcus aureus and Pseudomonas aeruginosa, which are included on the WHO’s 2017 Priority Pathogens List. Phage therapeutics are uniquely positioned to address the threat of antibiotic-resistance as they can be precisely targeted to kill select bacteria, have a differentiated mechanism of action, can penetrate and disrupt biofilms (a common bacterial defense mechanism against antibiotics), are potentially synergistic with antibiotics and have been shown to restore antibiotic sensitivity to drug-resistant bacteria. For more information visit www.ampliphibio.com.
At the Company:
Matthew Dansey, 858-800-4869
LHA Investor Relations
Jody Cain, 310-691-7100
Russo Partners, LLC
David Schull or Maggie Beller