Neuroscientific Biopharma receives $1.13m in R&D incentive to progress EmtinB

Neuroscientific Biopharma’s receipt of $1.13m in R&D tax incentive from the government is timely as it prepares for an early phase clinical trial of lead asset, EmtinB.

Australian drug development company Neuroscientific Biopharmaceuticals (ASX:NSB) has just received an R&D Tax Incentive refund of approximately $1,134,710 from the Australian Federal Government.

The refund is in relation to eligible R&D activities undertaken by the NSB during the 2020/2021 financial year.

The R&D refunds are an incentive under the Australian Government program where companies could receive cash refunds for 43.5% of eligible expenditure on their research and development expenses.

NSB says it intends to reinvest the money into the preclinical and clinical R&D programs currently being undertaken to support the commercialisation of NeuroScientific’s lead drug candidate, EmtinB.

Following the receipt of this refund, the company now has capital reserves of approximately $6.34 million.

EmtinB’s progress

Neuroscientific Biopharmaceuticals has entered one of the most exciting stages of its existence – successfully transitioning into clinical trials for its lead drug – peptide based compound, EmtinB.

NSB believes EmtinB will become a key treatment therapy for neurodegenerative conditions like Multiple Sclerosis and Alzheimer’s disease.

Instead of focusing on assumed processes of the disease, NSB is developing a potential solution by targeting the cells that are directly affected by these diseases.

NSB’s EmtinB is designed to stimulate survival mechanisms that allow the affected cells to withstand the damaging consequences of these diseases.

Previous studies have indeed shown EmtinB’s novel mode of action harnesses the body’s own defence mechanisms to combat the progression of neurodegenerative conditions.

An early-phase clinical trial for EmtinB is now underway, with recruitment already starting in late June.

The early phase trial aims to develop biomarker data from human blood samples to be used in a pending Phase 1 trial which has already received a Human Research Ethics Committee (HREC) approval.

In other developments, NSB is also undertaking animal studies for multiple sclerosis (MS), and has already reported very promising preliminary results from one study.

These studies aim to characterise the treatment effect of EmtinB in models that represent the different stages of MS, such as the relapse-remitting stage and the more advanced progressive stage of MS.

This article was developed in collaboration with NeuroScientific Biopharmaceutical, a Stockhead advertiser at the time of publishing.

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