Neurizon Therapeutics (ASX:NUZ) completed an initial drawdown of around AU$8.3 million under its research and development (R&D) financing facility with Dare Capital Loan Fund, secured against the company's fiscal 2026 R&D tax incentive rebate, according to a Tuesday filing with the Australian bourse.

The funds will primarily support the company's continued investment in the pivotal phase two and phase three Healey ALS platform trial, which is now fully recruited and is expected to deliver results in the late second quarter of fiscal 2027, per the filing.

The facility provides up to AU$17.5 million in non-dilutive funding, with annual extension options for fiscal 2027 and fiscal 2028 R&D claims, accruing interest at 1.25% per month and repayable upon receipt of the R&D tax incentive refund, the filing added.

The company's shares shed nearly 2% in recent Tuesday trade.