Australian-based reproductive biotechnology company, Memphasys says it has received a research and development (R&D) tax refund of about $1.3 million from the Australian Tax Office (ATO).

The refund has been used to repay an R&D loan to Radium Capital of $849,000 plus interest of $46,621.

Management says its net refund of $419,466 will be reinvested in MEM and used as working capital to fund…

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