Microba Life Sciences (AXX:MAP) has received approval from AusIndustry for two Advanced Overseas Findings for its Inflammatory Bowel Disease (IBD) and Immuno-oncology programs.

The microbiome company said the approval will result in additional Australian Federal Government R&D Tax Incentive cash rebates worth $526,000 for 2023-2025.

It also said the R&D Tax Incentive Program covers 43.5% cash rebate for eligible overseas research and development expenses associated with Microba's IBD and Immuno-oncology programs.

Microba Life Sciences added that the support from the Government helps it build a world-leading microbiome company from Australia.