- Amplia Therapeutics (ASX:ATX) receives $2.4 million from the government
- The money comes as part of a national research and development tax incentive
- The R&D work done relates to the company’s ongoing pancreatic cancer trial
- The funds will be used to pay off a separate loan from the VIC state government
- Shares last traded at 8.2 cents
Amplia Therapeutics (ASX:ATX) has confirmed a $2.4 million R&D tax benefit on the back of research using the company’s FAK inhibitors.
FAK inhibitors – otherwise known as Focal Adhesion Kinase (FAK) inhibitors – aim to suppress naturally occurring chemicals that build up in the body when cancer forms and ultimately aid tumours to grow.
FAK, a molecular element of the human body classed as an enzyme, is often overexpressed in a variety of cancers.
Amplia received the rebate for research into pancreatic cancers using its two FAK inhibitor drugs, AMP945 and AMP886.
An ongoing phase 1b/2a study using the two drugs kicked off in April with doses first being administered in August last year.
The ‘ACCENT’ trial sees patients taking tablets orally in tandem with more mainstream chemo drugs.
The company will use the funds to repay a Victorian government loan of $2.1 million loaned out in 2021.
Amplia shares last traded at 8.2 cents.