Evinco Therapeutics is pleased to announce that it has qualified as an Early Stage Innovation Company (ESIC). This designation, validated under Australian Government criteria, unlocks substantial tax incentives for eligible investors.

The ESIC status recognises Evinco’s early-stage innovation, supporting the company’s efforts to attract investment and advance the development of its novel therapeutic platform based on natural killer cell-derived extracellular vesicles (NK-EVs). The platform uses a non-invasive intranasal route to target neuroinflammation in Alzheimer’s disease, traumatic brain injury and other neurological disorders.

Evinco Therapeutics, CEO and Executive Chair, Professor Alan Trounson AO, said the ESIC qualification was an important milestone for the company as it progresses its development program.

 “ESIC qualification is a very important advantage for early stage companies seeking to attract investment. It provides eligible investors with valuable tax incentives, recognising the risks associated with investing in early stage innovation in the biotech sector.”

Evinco is currently progressing preclinical studies designed to evaluate the safety, efficacy and dose-response of its NK-EV platform, with the aim of generating the data required to advance towards clinical development.

The ESIC framework is designed to encourage investment in Australian companies undertaking eligible innovation activities. Eligible investors may be entitled to a 20 per cent non-refundable tax offset on qualifying investments, subject to the applicable ESIC eligibility requirements and investment limits. Investors can also receive a 10-year exemption on capital gains tax for investments held as shares in an ESIC for at least 12 months, subject to applicable requirements, including the 30 per cent interest limitation.

Evinco is currently seeking investment to support its development program and progress its NK-EV platform towards proof-of-concept, providing investors the opportunity to participate at an early stage of development while potentially accessing the tax benefits available under the ESIC framework.

Read more about tax incentives for early stage investors here: https://treasury.gov.au/national-innovation-and-science-agenda/tax-incentives-for-early-stage-investors

The ESIC tax incentives are subject to eligibility requirements under Australian tax law. Investors should obtain independent professional advice regarding their eligibility and the application of the ESIC provisions to their individual circumstances.