MELBOURNE, AUSTRALIA--(Marketwire - November 07, 2012) - In addition to the disclosure in the 2012 Annual Report, Biota Holdings limited (ASX: BTA) today announced that it received $4.2m in respect to the Australian Research and Development tax incentive ("Offset "), following submission of its 2012 Australian tax return.
As a result, Biota's cash position increased by $4.2m and will be recognized as a tax credit in the income statement in the December quarter financial reports.
Biota is a leading anti-infective drug development company based in Melbourne Australia, with key expertise in respiratory diseases, particularly influenza. Biota developed the first-in-class neuraminidase inhibitor, zanamivir, subsequently marketed by GlaxoSmithKline as Relenza. Biota research breakthroughs include a series of candidate drugs aimed at treatment of respiratory syncytial virus (RSV) disease and Hepatitis C (HCV) virus infections. Biota has a well advanced program for human rhinovirus (HRV) infection with a completed Phase IIb study in asthmatic subjects.
In addition, Biota and Daiichi Sankyo co-own a range of second generation influenza antivirals, of which the lead product lnavir®, is marketed in Japan. Biota holds a contract from the US Office of Biomedical Advanced Research and Development Authority (BARDA) for the advanced development of laninamivir in the USA.
Relenza™ is a registered trademark of the GlaxoSmithKline group of companies.
Inavir® is registered to Daiichi Sankyo.