Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • ResApp Health (RAP) has received nearly $2 million from its research and development (R&D) tax incentive
  • CEO Tony Keating is grateful for the Federal Government’s continued support of R&D by Australian companies
  • ResApp is down 2.04 per cent on the market today and is trading at 24¢ apiece

ResApp Health (RAP) has received $1.8 million from its research and development (R&D) tax incentive.

The Australian Federal Government’s R&D tax incentive program provides a cash refund on eligible research and development activities performed by Australian companies.

ResApp is a leading digital health company developing smartphone applications for the diagnosis and management of respiratory diseases. It uses machine learning algorithms that detect sound and thereby discover respiratory illnesses.

CEO Tony Keating is grateful for the Federal Government’s continued support of R&D by Australian companies.

“Over the past four years, the program has helped us invest in the continued development of our audio-based machine learning algorithms, resulting in the world’s first clinical-validated and regulatory approved smartphone application for acute respiratory diagnosis,” Tony said.

“This year’s rebate further strengthens our balance sheet and allows us to continue to invest resources and accelerate commercialisation,” he added.

Recently, ResApp entered an agreement with Coviu to integrate its respiratory app into the company’s telehealth software program.

ResApp is down 2.04 per cent on the market today and is trading at 24¢ apiece at 12:34 pm AEDT.

RAP by the numbers
More From The Market Herald
Nuix (NXL) - Outgoing Group CEO Rod Vawdrey

" Nuix (ASX:NXL) appoints new members to its board

Nuix (NXL) has seen a company reshuffle, appointing new members to its board.

" AL3D (ASX:AL3) sells Arcemy 3D printer to University of Queensland

AL3D Limited (AL3) has sold one of its Arcemy WAM printing units to the University of Queensland (UQ) for around $400,000.

" EP&T Global (ASX:EPX) forecasts 85pc ARR growth for FY22

EP&T Global (EPX) expects the company’s annualised recurring revenue (ARR) to grow by 85 per cent in the 2022 financial year.

" Structural Monitoring Systems(ASX:SMN) shakes up board amid $10m capital raise plan

Structural Monitoring Systems (SMN) has announced a board restructure and plans to continue with a $10 million capital raise.