Zelira Therapeutics Secures $1.15M R&D Refund to Fuel Clinical Pipeline
Zelira Therapeutics has received a $1.15 million cash refund from the Australian Government’s R&D Tax Incentive Scheme, bolstering its working capital to advance clinical development and business operations.
- Received $1,153,000 R&D Tax Incentive refund
- Funds allocated to clinical development and business operations
- Focus on advancing HOPE® 1 and ZENIVOL® products
- Plans to expand commercialisation in Germany and US markets
- Ongoing investment in proprietary cannabinoid-based medicines and technology
Zelira Boosts Working Capital with Government Refund
Zelira Therapeutics Ltd (ASX:ZLD) announced it has received a $1,153,000 cash refund under the Australian Federal Government’s Research and Development Tax Incentive Scheme. This injection of funds is earmarked to support the company’s ongoing clinical development programs and essential business operations.
The R&D Tax Incentive refund comes at a pivotal time for Zelira, a biopharmaceutical company specialising in clinically validated cannabinoid-based medicines. The company is actively progressing a portfolio of proprietary products, including its prescription brand HOPE® and the recently approved ZENIVOL® for chronic insomnia, which is set for commercial expansion into Germany.
Advancing Clinical Trials and Commercial Expansion
Zelira’s strategic focus remains on advancing its clinical pipeline, particularly the HOPE® 1 product, which is undergoing FDA Phase 1 to Phase 3 trials through a special purpose vehicle (SPV). Zelira holds a majority 55% equity stake in this SPV, which is funded by approximately US$35 million from cash investors. The company manages the SPV and has engaged INGENū CRO Pty Ltd to lead clinical validation and regulatory submissions with the US FDA.
Alongside clinical development, Zelira is expanding its commercial footprint. The company’s HOPE® formulations currently generate revenue in Australia and select US states, while ZENIVOL® is poised to enter the German market following regulatory approval. Additionally, Zelira’s over-the-counter (OTC) products, including oral care and dermatology lines, continue to contribute to revenue streams, particularly in the US market.
Innovative Technology and Intellectual Property
Zelira is also developing proprietary technology such as the Enhanced Distillate Capture and Dissolution Matrix (EDCDM) under the Zyraydi™ brand. This innovation addresses challenges in cannabinoid pharmaceutical formulations, potentially opening new avenues for solid oral dosage forms like capsules and tablets. The company is exploring commercialisation opportunities for this technology, which could further differentiate its product offerings.
The R&D refund not only strengthens Zelira’s financial position but also underscores the company’s commitment to innovation and clinical validation in the cannabinoid medicine sector. With a clear pipeline and expanding markets, Zelira is positioning itself for sustained growth in a competitive biopharmaceutical landscape.
Bottom Line?
This government refund provides Zelira with a timely financial boost to accelerate clinical milestones and commercial expansion, setting the stage for its next growth phase.
Questions in the middle?
- How will Zelira allocate the R&D refund across its various clinical programs?
- What are the timelines and milestones for the FDA trials of HOPE® 1?
- How will Zelira’s proprietary EDCDM technology impact future product development and market competitiveness?
