French Ministry of Research grants French R&D tax credit accreditation to Cyprotex

Cyprotex (AIM:CRX), the drug discovery technology and information company, is pleased to announce that it has received French research tax credit approval for years 2009 through to 2011.

The French Ministry of Research (Ministere de l'Enseignement Superieur et de la Recherche) has granted the French R&D tax credit ("Credit d'Impot Recherche", CIR) accreditation to Cyprotex as of March 2010. This initiative allows eligible French pharmaceutical, biotech and agricultural companies subject to corporate tax in France, the ability to claim significant tax relief on costs generated in R&D requirements that are outsourced to Cyprotex Discovery.

Dr Anthony Baxter, Cyprotex's Chief Executive Officer, comments: 'We are delighted to receive this recognition and approval from the French Ministry of Research which will provide greater opportunities to support our current client base and allow for improved collaborations with future French clients.'

Source: CYPROTEX