Brisbane, Australia, 24 April 2018 — ResApp Health Limited (ASX:RAP), a leading digital health company developing smartphone applications for the diagnosis and management of respiratory disease, today announced that it has received a cash rebate of $689,056 from its R&D tax incentive claim for the financial year ending 30 June 2017. The Australian Federal Government’s R&D Tax Incentive program provides a cash refund on eligible research and development activities performed by Australian companies.
Tony Keating, CEO and Managing Director of ResApp Health, commented, “Whilst well-funded to execute our on-going clinical strategy, including our US SMARTCOUGH-C-2 study, our Australian prospective studies and our obstructive sleep apnoea program, these additional funds further strengthen our financial position.”
ResApp supports the continuation of the R&D Tax Incentive program which greatly assists Australian companies perform research and development in Australia and bring innovative technologies such as ours to the world.
About ResApp Health Limited
ResApp Health Limited (ASX: RAP) is a digital health company developing smartphone applications for the diagnosis and management of respiratory disease. ResApp’s machine learning algorithms use sound to diagnose and measure the severity of respiratory conditions without the need for additional hardware. ResApp has adult and paediatric clinical studies underway at leading hospitals in the United States and Australia with results demonstrating accurate diagnosis of pneumonia, asthma/reactive airway disease, bronchiolitis, croup, chronic obstructive pulmonary disease and upper respiratory tract infections. ResApp has also obtained excellent results for screening of obstructive sleep apnoea in a proof-of-concept clinical study. Potential customers of ResApp’s products include healthcare providers in telehealth, emergency department, urgent care and primary care settings as well as humanitarian organisations in the developing world.
For more information on ResApp, visit www.resapphealth.com.au