SYDNEY, AUSTRALIA, September 29, 2021 (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, has the pleasure to announce that it has received a prize of € 2,126,617 (~ AU $ 3,430,952) Research and development (R&D) tax incentive payment in cash from the French government as part of its Credit scheme Research Tax (CIR).
The “Research Tax Credit” (CIR), which stands for “Research Tax Credit”, is a tax incentive from the French government through which French companies carrying out research and development activities in Europe can be reimbursed for 30% of their expenses. eligible.
Immutep benefits from the CIR tax incentive via its subsidiary Immutep SAS due to the research and development work carried out in its laboratory in Châtenay-Malabry in the south-west of Paris. Payment in cash is provided for expenses incurred in the framework of eligible R&D activities carried out in the European Union during the calendar year 2020. Immutep is also eligible for cash rebates from the tax incentive program to Australian Federal Government R&D in respect of expenses incurred in connection with eligible R&D activities carried out in Australia. In April 2021, the Company received a cash rebate of AUD 1,155,055 for expenses incurred in connection with eligible R&D activities carried out during fiscal year 2020.
The funds will be used to support the ongoing and planned global clinical development of eftilagimod alpha and the preclinical development of IMP761.
Immutep is a globally active biotechnology company, a leader in the development of immunotherapeutics related to LAG-3 for the treatment of cancer and autoimmune diseases. Immutep is committed to leveraging its technology and expertise to bring innovative treatment options to market for patients and maximize shareholder value. Immutep is listed on the Australian Securities Exchange (IMM) and NASDAQ (IMMP) in the United States.
Immutep’s current lead product candidate is eftilagimod alpha (“efti” or “IMP321”), a soluble LAG-3 fusion protein (LAG-3Ig), which is an activator of antigen presenting cells (APC). first-class being studied in cancer and infectious diseases. Immutep is also developing a LAG-3 agonist (IMP761) for autoimmune diseases. Other LAG-3 products, including antibodies for modulating the immune response, are under development by Immutep’s major pharmaceutical partners.
Further information can be found on the company’s website www.immutep.com or by contacting:
Australian Investors / Media:
Catherine Strong, Citadelle-MAGNUS
+61 (0) 406 759 268; [email protected]
Tim McCarthy, LifeSci Advisors
+1 (212) 915.2564; [email protected]