PENAO Pty Ltd
An Australian start-up biotechnology company
- PENAO is a novel investigational medicinal product (IMP) and potential treatment for cancers that are unresponsive to standard treatment, or for which no standard treatment exists.
- PENAO has been administered to 26 patients in an oncology clinical trial in Australia and planning has started for a second clinical trial in Australia and China.
- PENAO Pty Ltd is the name of the proprietary company that holds an exclusive commercial licence to research, develop and commercialise PENAO. Beroni Group (NSX:BTG) hold 60% of shares and NSi (University of New South Wales, Sydney) hold 40% of shares.
The Company
PENAO Pty Ltd was incorporated in Sydney, Australia on the 24th June 2019. It is registered with the Australian Securities and Investments Commission (ASIC) and the Australian Company Number (ACN) is 634 333 387.
In addition to an initial $2,350,000 investment from Beroni, the Company benefits from the Australian government’s R&D rebate which gives an annual cash return of 43.5% from all domestic and overseas qualifying R&D spend. (After 1 July 2021, the R&D rebate was changed to the company tax rate plus an 18.5% premium).
In FY 2021-2, PENAO Pty Ltd received a rebate of $419,018.18 PENAO Pty Ltd has now received a total of $668,872.36 R&D rebate, including $249,854.18 from the truncated Jan-Jun 2021 FY.