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Cyclacel Pharmaceuticals Receives £2.3 Million Tax Credit for Research and Development Efforts
Oncology Research with Financial Boost from UK Government
According to the Finance of HealthCare, Cyclacel Pharmaceuticals got a big financial boost with a £2.3 million (about $2.9 million) research and development tax credit from HMRC the UK’s tax authority. This money is for the research costs they had in 2023. They might get another $0.8 million if the tax rate changes for their expenses in 2023. Paul Mc Barron l finance and operations head said thanks to the government for helping.
READ ALSO: 2024 Child Tax Credit Refund – Key Dates To Remember
CyclaceI Pharmaceuticals Secures £2.3M R&D Tax Credit Boost for Precision Medicine Pursuits. (PHOTO: ICS Career GPS )
Tax Credit Acknowledges Commitment to Innovate Cancer Treatments
It gives them more money to keep working on new cancer treatments. The tax credit shows that the government sees the company’s efforts to make new medicines. The tax credit shows that their efforts are recognized and they’re dedicated to making better medicines for cancer patients.
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