Adelaide's Bionomics gets R&D tax rebate to boost cash position BIONOMICS has received a $7.04 million R & D tax incentive from the Australian Government. The Adelaide company said it recently received confirmation that $17.42 million in overseas spending on drug candidate BNC101 and other projects were eligible for the tax incentive for three years from July 1, 2012. This is in addition to a separate finding announced in January that covers drug candidates BNC105 and BNC375 for three years from 1 July 2011. "Such a large injection of cash is important to Bionomics as we continue to progress a number of drug candidates along the pipeline including BNC101, which will enter the clinic for the first time in 2014," chief executive Dr Deborah Rathjen said. It is pleasing to know we will be eligible for the incentive for all these programs in the year to June 2014 as well. Bionomics shares were 0.5c lower at 67c.