Avita Medical Ltd. (AVMXY: OTCQX International) | Avita Medical Announces Receipt of $1.4 Million R&D Tax Incentive

OTC

Avita Medical Announces Receipt of $1.4 Million RD Tax Incentive

Nov 10, 2014

OTC Disclosure News Service

Northridge, CA, and Cambridge, UK


Avita Medical Ltd. (ASX: AVH),(OTCQX:AVMXY) a regenerative
medicine company specializing in the treatment of wounds and skin defects, today
announced that it has received an Australian RD Tax Incentive payment of $1.4M
for the financial year ending 30 June 2014.

“The payment resulting from Australia’s
RD Tax Incentive program provides an important additional resource to
innovate new advancements and explore additional applications for our
proprietary technology platform, ReCell® Spray-On Skin®,” commented Tim Rooney,
Avita Medical’s Interim Chief Executive Officer.

ABOUT AVITA MEDICAL LIMITED

Avita Medical (http://www.avitamedical.com)
develops and distributes regenerative products for the treatment of a broad
range of wounds, scars and skin defects. Avita’s patented and proprietary
tissue‐culture, collection and application technology provides innovative
treatment solutions derived from a patient’s own skin. The Company’s lead
product, ReCell® Spray‐On Skin®, is used in a wide variety of burns, plastic,
reconstructive and cosmetic procedures. ReCell is patented, CE‐marked for
Europe, TGA‐registered in Australia, and SFDA‐cleared in China. ReCell is not
available for sale in the United States; in the United States, ReCell is an
investigational device limited by federal law to investigational use. A Phase
III FDA trial is in process.

 

This release includes additional documents. Select the link(s) below to view.

Avita 2014 RD Tax Incentive Announcement.pdf

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