Hexima (ASX:HXL) has announced the receipt of over $6M from the Australian Tax office under the Research & Development Tax Incentive for the 2022 financial year.

Hexima, a biotechnology company engaged in the use of plant-derived molecules for use in human health, says the funds will be used to settle approximately $4.5M of outstanding liabilities.

It also says after the settlement of the liabilities, Hexima expects to have cash and receivables of between $2.95M and $3.05M, and no other material tangible assets or liabilities.

Hexima says the figures include its FY2023 R&D Tax Incentive rebate receivable of approximately $0.6M.