Beroni Group Received Approval for 43.5% R&D Rebate from Australian Government for the Novel, Potential Anti-Cancer Drug PENAO

Sydney, AUSTRALIA


NEW YORK and SYDNEY, Australia, Sept. 09, 2021 (GLOBE NEWSWIRE) -- Beroni Group (OTCQX: BNIGF; NSX: BTG) (“Beroni”), an Australia-based biopharmaceutical enterprise, today announced that PENAO Pty Ltd, its majority-owned, Sydney-based anti-cancer drug development company, has been approved by the Australian government for the annual 43.5% R&D rebate of eligible expenditure.

The approval also includes R&D overseas activities so long as the total overseas expenditure claim over the life of the R&D activities is less than the expected total expenditure on the Australian R&D activities to which they are scientifically linked.

The PENAO drug manufacture is expected to complete in the first half of 2022. Raw materials have been procured, familiarization studies have been completed and optimization work is progressing well at Aurigene Pharmaceutical Services Ltd, India.

“Aurigene is delighted to partner with PENAO Pty Ltd. In the past 18 years of our work, a key therapy area has been anticancer drug discovery and clinical development. Our technical and infrastructure capabilities provide an integrated drug substance and drug product program for PENAO,” said Ravi Venkataramanan, CEO of Aurigene Pharmaceutical Services Ltd, a wholly-owned subsidiary of Dr. Reddy’s Laboratories Limited (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY).

“We are pleased to receive the Australian government’s support for our R&D activities, and we hope that the annual rebate signals to investors the rigorous due diligence conducted by the Australian government and our commitment to develop the PENAO drug to potentially meet the unmet medical need of millions of cancer patients worldwide,” said Jacky Zhang, CEO of Beroni Group.

About Beroni Group Limited

Beroni Group is an Australia-based biopharmaceutical enterprise dedicated to the innovation and commercialization of drugs and therapies to combat various global diseases such as cancer and infectious diseases. Its diversified portfolio comprises FDA/CE-approved virus diagnostic kits, an e- commerce platform for the sale of pharmaceutical products and a development pipeline targeting oncology and cell therapies. Beroni has operations in Australia, United States, China and Japan. To learn more about Beroni, please visit www.beronigroup.com.

About PENAO Pty Limited
PENAO Pty Ltd is focused on the research, development and commercialization of the potential anti- cancer small molecule drug also called PENAO. PENAO enjoys the support of a multi-national, high quality management team including the drug’s co-creator Professor Phil Hogg and minority shareholder the University of New South Wales Sydney.

About Dr. Reddy’s Laboratories Ltd.
Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY) is an integrated pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Through its three businesses - Pharmaceutical Services & Active Ingredients, Global Generics and Proprietary Products – Dr. Reddy’s offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars and differentiated formulations. Our major therapeutic areas of focus are gastrointestinal, cardiovascular, diabetology, oncology, pain management and dermatology. Dr. Reddy’s operates in markets across the globe. Our major markets include – USA, India, Russia & CIS countries, and Europe. For more information, log on to: www.drreddys.com.

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For more information, please contact our IR consultants at:

Dragon Gate Investment Partners LLC
Tel: +1(646)-801-2803
Email: BNIGF@dgipl.com