Chimeric Therapeutics Ltd. (AU:CHM) has released an update.
Chimeric Therapeutics has secured a $1.5 million advance from Endpoints Capital, backed by the expected FY24 R&D tax incentive, to bolster its clinical trial activities and general working capital. This strategic financial move anticipates the company’s receipt of a tax offset from the Australian Government’s R&D program, aimed at enhancing its innovative cell therapy portfolio for cancer treatment. The advance is to be repaid by the end of 2024 and supports Chimeric’s commitment to developing both autologous CAR T cell therapies and allogeneic NK cell therapies for oncology.
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