Immutep (ASX:IMM) has announced it has received a €2,194,918 (~A$3,6) research and development tax incentive payment in cash from the French Government under its Crédit d’Impôt Recherche scheme.
Immutep is developing novel LAG-3-related immunotherapy treatments for cancer and autoimmune diseases. The company said the funds will support the ongoing and planned global clinical development of eftilagimod alpha and IMP761.
The Crédit d’Impôt Recherche (Research Tax Credit) is a French government tax incentive by which French companies conducting research and development activities in Europe can be reimbursed 30 per cent of their eligible expenditure.
Immutep said it qualifies for the incentive through its subsidiary, Immutep SAS, due to the research and development conducted in its laboratory in France. Immutep said it also qualifies for cash rebates from the Australian Federal Government’s R&D tax incentive program for expenditure on eligible R&D activities conducted in Australia.
