ReNerve Limited (ASX:RNV) has received an additional $139,537 tax refund under the Research and Development (R&D) Tax Incentive program, bringing the total refund to $516,606. This additional funding stems from an assessment of the company’s overseas research and development activities. The initial refund of $377,069 was received in September 2024.
ReNerve is focused on advancing its portfolio of peripheral nerve repair solutions. Its first FDA-cleared product, the NervAlign® Nerve Cuff™, is currently available in the US market for treating various peripheral nerve injuries (PNI). The company is actively working to introduce its next product, the NervAlign® Nerve Conduit™ with a third product, the NervAlign® Nerve Guide Matrix™ under development. The Nerve Guide Matrix is intended to replace damaged nerves, enabling ReNerve to offer a comprehensive range of nerve repair and replacement solutions.
ReNerve is also conducting a clinical study on the NervAlign® Nerve Cuff™ and plans to present the study results at the American College of Foot and Ankle Surgeons Conference from March 27th to March 30th, 2025. ReNerve acknowledges AusIndustry’s Accelerating Commercialisation program for its support with the NervAlign® Nerve Cuff.