An update from Living Cell Technologies Ltd. ( (AU:1AI) ) is now available.
Algorae Pharmaceuticals Limited has received a significant R&D Tax Incentive rebate of A$451,359 from the Australian Taxation Office for eligible activities conducted over the 2023 and 2024 financial years. This non-dilutive cash injection will be used to advance the company’s AI-driven drug discovery programs and pharmaceutical development pipeline, supporting early revenue opportunities. The rebate underscores Algorae’s commitment to leveraging AI for pharmaceutical innovation and the development of novel drug candidates.
More about Living Cell Technologies Ltd.
Algorae Pharmaceuticals (ASX: 1AI) is an AI-enabled pharmaceutical development company focused on discovering and developing novel treatments for unmet medical needs. The company utilizes its proprietary AI platform, AlgoraeOS, which employs machine learning and deep neural networks to identify synergistic drug combinations. Algorae collaborates with leading research institutions and pharmaceutical partners to accelerate the translation of AI-predicted therapies into clinical applications.
Technical Sentiment Signal: Strong Buy
Current Market Cap: $5.32M
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