Biotech company Noxopharm (ASX:NOX) secured AU$1.8 million in advanced funding from Endpoints Capital against its Australian Government research and development tax incentive scheme rebate for the fiscal year 2023-2024, according to a Friday filing with the Australian Securities Exchange.
The company received the funding through a secured loan agreement over the rebate at an annual interest rate of 15.80%. The loan is repayable from R&D rebate proceeds, estimated to be around AU$2.3 million for the year ending June 30, the filing said.
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