AFT Pharmaceuticals has today been announced as a recipient of a government Technology Development Grant (TDG) by Callaghan Innovation.
The TDG grants are valued at 20% of the R&D spend of each business (up to a maximum of $2.4 million per year for three years). AFT Pharmaceuticals has been awarded a total of $3.85M to assist with R&D expenditure.
Dr Hartley Atkinson, Managing Director at AFT Pharmaceuticals, welcomed today’s announcement by Hon Steven Joyce, Minister of Science and Innovation.
“We are hugely appreciative of the government’s support. New and improved product development sits at the heart of this company,” said Dr Atkinson. “It drives us day-to-day and it’s allowed us to compete on the world stage in a very competitive industry. But R&D in the pharmaceutical space is very expensive, so we appreciate the government assisting with some of these costs. This money will help with a variety of trial work and will help us move faster in getting products to overseas markets.”
Read the Minister’s media release here.