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ChemGenex Pharmaceuticals Limited (ASX: CXS) announced today that its U.S. subsidiary, ChemGenex Pharmaceuticals Inc. has been awarded a US$244,479 grant under the  auspices of the Qualifying Therapeutic Discovery Project, a grant and tax credit scheme operated by the U.S. Internal Revenue Service (IRS).

The Qualifying Therapeutic Discovery Project Tax Credit was included in the U.S. Health Care Reform Bill of 2010 to foster medical, life science, and biological innovation in the U.S., and was open to eligible U.S. biotechnology companies including ChemGenex Pharmaceuticals, Inc.

“We are delighted to receive this grant from the IRS and the U.S. Department of Health and Human Services, and look forward to submitting the new NDA for omacetaxine in CML patients who have failed two or more tyrosine kinase inhibitors to the U.S. FDA in 2011” said Greg Collier Ph.D., Managing Director and Chief Executive Officer of ChemGenex