Amplia is pleased to announce that it has been awarded a $2.1m R&D cash flow loan as part of the Victorian Government’s R&D Cash Flow Loans Initiative.
The initiative supports innovative Victorian businesses to invest in R&D activity to develop products, services and technologies that are vital to the State’s future economy.
The funds from the loan will be used to accelerate work on Amplia’s second FAK inhibitor, AMP886, and prepare to initiate preclinical activities to support future clinical trials.
Amplia CEO and MD, Dr John Lambert said:
“The first Phase 2 clinical study of our leading FAK inhibitor AMP945 is funded and about to commence. This loan allows us to kick-start work on a second asset, AMP886, earlier and more aggressively than originally planned. We are very grateful to Invest Victoria for their support.”
Read today’s ASX release here.