Orthocell Receives $3.0m R&D Tax Refund

• Orthocell receives $3.0 million R&D tax refund
• Cash reserves now stand at $49.6 million
• Funds to drive commercialization of Remplir nerve repair product

Orthocell Limited, a regenerative medicine company, has announced that it has received a $3.0 million Research and Development (R&D) Tax Incentive refund from the Australian Federal Government. This non-dilutive addition to the company's cash reserves brings its total cash balance to $49.6 million, further strengthening its financial position. Orthocell CEO and Managing Director, Paul Anderson, stated that the R&D tax refund is a valuable enhancement to the company's cash position and that the Australian Government's program provides meaningful economic incentives to drive investment in R&D. The company's flagship nerve repair product, Remplir, which is now being commercialized throughout the Americas and Asia Pacific, is cited as a tangible example of a product that has benefited from this program. Orthocell remains focused on driving rapid market adoption of Remplir, supported by its strong debt-free balance sheet and ongoing investment in clinical evidence and medical education initiatives. The company is ultimately targeting a Total Addressable Market in selected jurisdictions of more than US$3.5 billion for the nerve repair market.

Orthocell remains focused on driving rapid market adoption of its flagship nerve repair product, Remplir, supported by its strong debt-free balance sheet and ongoing investment in clinical evidence and medical education initiatives.