Brisbane, Australia, 14 September 2021 - ResApp Health Limited (ASX:RAP), a leading digital health company developing smartphone applications for the diagnosis and management of respiratory disease is pleased to announce that it has received approval from AusIndustry for its application for an Advanced and Overseas Finding in respect to expenditure associated with its COVID-19 clinical studies.
The finding covers financial years 2021, 2022 and 2023 and means that eligible overseas research and development expenditure in ResApp's COVID-19 clinical studies, in additional to Australian expenditure, will be subject to a 43.5% cash rebate under the Australian Federal Government's R&D Tax Incentive Program. The company now estimates that it will receive an R&D rebate of approximately $820,000 for the financial year ended 30 June 2021.
In the US, ResApp is recruiting participants in a pilot study to collect data to train an algorithm to identify COVID-19 through cough sounds recorded on a smartphone (ref ASX announcement 11 March 2021). Participants from this first study are also recruited into a second study which will collect additional cough sounds and data on disease progression to develop algorithms to remotely monitor patients with COVID-19 (ref ASX announcement 9 August 2021).
ResApp has also engaged Triomics, an Indian clinical trial company, to recruit patients in India (ref ASX announcement 9 August 2021). Recruitment in India is expected to begin shortly.
CEO and Managing Director, Dr Tony Keating commented: 'Our COVID-19 research program is looking at developing algorithms for screening for COVID-19 as well as helping healthcare systems better manage patients with COVID-19, including those with long COVID. This finding, recognising the need to collect COVID-19 cough samples internationally, provides us with a high degree of certainty in planning our programs. We are very grateful to the Federal Government for their commitment to supporting research and development by Australian companies.'
About ResApp Health Limited
ResApp Health Limited (ASX: RAP) is a leading digital health company developing smartphone applications for the diagnosis and management of the respiratory disease. ResApp's machine learning algorithms use sound to diagnose and measure the severity of respiratory conditions without the need for additional accessories or hardware. ResApp's regulatory-approved and clinically validated products include ResAppDx, a smartphone-based acute respiratory disease diagnostic test for use in telehealth, emergency department and primary care settings; and SleepCheck, a smartphone application which allows consumers to self-assess their risk of sleep apnoea. Both products are CE Marked in Europe and TGA approved in Australia. For more information, please visit www.resapphealth.com.au.
ResApp Health Limited published this content on 14 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 September 2021 03:21:00 UTC.