Brisbane, Australia, 20 December 2021 — ResApp Health Limited (ASX:RAP), a leading digital health company developing smartphone applications for the diagnosis and management of respiratory disease, is pleased to advise that it has received $818,826 from its research and development (R&D) tax incentive claim for the financial year ending 30 June 2021.
The R&D tax incentive program is jointly administered by the Australian Taxation Office and the Department of Industry, Innovation and Science, and allows companies to receive up to a 43.5% refundable tax offset of eligible expenses associated with research and development initiatives.
CEO and Managing Director, Dr Tony Keating said: “We are grateful for the Australian Federal Government’s continued commitment to supporting R&D by Australian companies. ResApp is the global leader in using audio to diagnose and manage respiratory health, and the R&D tax incentive program helps us to continue to invest in R&D to maintain this leadership.”
The refund strengthens the company’s cash position, which was $4.4 million as of 30 September 2021.
About ResApp Health Limited
ResApp Health Limited (ASX: RAP) is a leading digital health company developing smartphone applications for the diagnosis and management of the respiratory disease. ResApp’s machine learning algorithms use sound to diagnose and measure the severity of respiratory conditions without the need for additional accessories or hardware. ResApp’s regulatory-approved and clinically validated products include ResAppDx, a smartphone-based acute respiratory disease diagnostic test for use in telehealth, emergency department and primary care settings; and SleepCheck, a smartphone application which allows consumers to self-assess their risk of sleep apnoea. Both products are CE Marked in Europe and TGA approved in Australia. For more information, please visit www.resapphealth.com.au.