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Zelira Therapeutics cash balance boosted by $1.378 million R&D tax refund

The company is focused on developing branded cannabis products for the treatment of a variety of medical conditions.

Zelira Therapeutics Ltd -
Zelira is a leading global therapeutic medical cannabis company with access to the world’s largest and fastest growing cannabis markets

Zelira Therapeutics Ltd (ASX:ZLD) (OTCQB:ZLDAF) (FRA:G1G) has received a A$1.378 million cash refund under the Australian Federal Government’s Research and Development (R&D) Tax Incentive Scheme.

The R&D Tax Incentive Scheme is an Australian Government program under which companies receive cash refunds for 43.5% of eligible expenditure on research and development.

Funds will be used to accelerate the recent launches of Zenivol™ for Insomnia, HOPE™ for Autism and a new CBD-Toothpaste into global markets and also to advance Zelira's ongoing clinical and product development programs.

Partnership with SprinJene®

In partnership with SprinJene®, a leader in natural oral care products, Zelira has launched its first over-the-counter (OTC) proprietary CBD toothpaste in the US.

The Zelira-SprinJene® CBD product will be distributed in the US through SprinJene’s existing distribution channels including retail stores such as Bed Bath & Beyond, Central Market, Sprouts, Lassen’s, Haggens, VitaCos and e-commerce platforms such as Amazon.

Discussions are ongoing to access SprinJene’s global distribution networks in France, Russia, the UK, Singapore, Ukraine, China, Morocco, United Arab Emirates, Saudi Arabia and Sudan Shoprite.

Zelira chief executive officer and managing director USA markets Dr Oludare Odumosu said: “Zelira is thrilled to enter the national oral care market alongside a company that values the harmony of nature and science as much as we do.”

Quick facts: Zelira Therapeutics Ltd

Price: 0.077 AUD

ASX:ZLD
Market: ASX
Market Cap: $91.27 m
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Zelira Therapeutics forms exclusive licensing deal to distribute its HOPE...

Zelira Therapeutics Ltd (ASX:ZLD) (OTCQB:ZLDAF) (FRA:G1G) Managing Directors Dr Oludare Odumosu and Dr Richard Hopkins tell Proactive the group has entered into a binding licensing agreement with Alternative Solutions LLC to manufacture and distribute Zelira’s HOPE products in the Washington DC...

on 12/17/2020

2 min read