logo-loader
Cellmid Limited

Cellmid banks research and development tax incentive

Cellmid’s consumer health segment generates revenue by selling anti-ageing functional cosmetics and consumer health products.

cosmetics
The company is closing in on profitability.

Cellmid Limited (ASX:CDY) has received $808,000 from the Australian Taxation Office under the Research and Development Tax Incentive Scheme for the 2018 financial year.

The tax credit relates to research and development expenditure incurred by Cellmid in relation to its midkine (MK) and FGF5 inhibitor programs.

Cellmid’s évolis® hair growth product range was developed using FGF5 related intellectual property.

The company aims to follow in the footsteps of FGF5 by commercialising its MK portfolio through various deals and partnerships.

READ: Cellmid driving towards profitability with anti-ageing product range

Cellmid’s consumer health segment generates revenue by selling anti-ageing functional cosmetics and consumer health products for hair, face and wellbeing.

The segment generated $5.64 million in revenue in FY2018 and as Cellmid expands its product range and selling markets, it is closing in on profitability.

Quick facts: Cellmid Limited

Price: 0.25 AUD

Market: ASX
Market Cap: $24.15 m
Follow

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Cellmid Limited named herein, including the promotion by the Company of Cellmid Limited in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Cellmid makes key retail collaborations and continues to kick strategic goals

Cellmid Limited (ASX:CDY) chief executive officer and managing director Maria Halasz updates Proactive on a number of recent key announcements, including a new collaboration with a major retail chain in Europe, a new agreement to sell Evolis in 400 Priceline pharmacies and signing up with the...

2 weeks, 4 days ago

2 min read