Adherium secures A$887,136 R&D tax refund to bolster cash reserves
Adherium Limited (ASX: ADR) has confirmed the release of A$887,136 from the Australian Taxation Office under the Federal Government’s Research and Development Tax Incentive program. The Adherium R&D Tax Incentive Refund represents non-dilutive funding that strengthens the company’s cash position without shareholder dilution. The company has also lodged a NZ$242,026 R&D tax credit claim with New Zealand’s Inland Revenue, expected to be received in the coming weeks.
The refunds relate to eligible research and development activities undertaken during FY25. For small-cap healthcare companies advancing development programmes, non-dilutive capital extends operational runway whilst preserving shareholder equity.
What is the R&D Tax Incentive?
Australia’s R&D Tax Incentive program offers tax offsets for eligible research and development activities to encourage innovation. Companies with turnover under $20 million receive a refundable tax offset, meaning they can claim a cash refund even if they have no tax liability. New Zealand operates a similar programme designed to support innovation-focused businesses.
The mechanism provides predictable annual cash inflows tied to qualifying development work, rewarding companies that maintain active R&D programmes.
Funding supports Hailie platform advancement
The Adherium R&D Tax Incentive Refund validates ongoing investment in the company’s core Hailie Smartinhaler platform, which has achieved US FDA clearance and sold more than 180,000 devices globally. The Hailie solution is a connected respiratory device enabling remote monitoring of medication adherence, providing clinicians with visibility into patient medication use history.
The platform’s capabilities include:
- Remote monitoring of medication usage parameters and adherence
- Clinician and healthcare provider access to patient data
- SDK and API integration tools for data capture and sharing
- Mobile and desktop app functionality
- Broad range of sensors connected to respiratory medications
The refund confirms the company’s development activities meet regulatory criteria for innovation support, providing external validation of its R&D focus whilst the platform continues to gain commercial traction.
Management perspective on non-dilutive funding
Dawn Bitz, CEO and Managing Director
“We are grateful for the continued support provided through the Australian and New Zealand R&D tax incentive programs. These initiatives play an important role in enabling innovation by providing valuable non-dilutive funding, allowing us to advance our development programs efficiently and create long-term value for our investors.”
The CEO’s comments emphasise the strategic importance of R&D incentives in enabling efficient capital allocation, particularly for development-stage healthcare companies where shareholder dilution can materially impact existing equity holders.
Combined R&D incentives summary
The Australian refund has been released, whilst the New Zealand claim is expected to be received over the coming weeks.
| Jurisdiction | Amount | Status |
|---|---|---|
| Australia | A$887,136 | Released |
| New Zealand | NZ$242,026 | Lodged, pending |
The combined incentives provide meaningful working capital support for a company advancing its commercially deployed, FDA-cleared respiratory management platform.
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