Recce Pharmaceuticals Ltd (ASX:RCE, OTC:RECEF) has successfully registered its RECCE® trademark in Canada and is ready to take on that market with the added boost of R&D tax incentive rebates from the Canadian Revenue Agency.
Trademark registered
The Canadian Intellectual Property Office awarded Recce with International Trademark Registration No. 1289603, corresponding to Canada Trademark No. 1225479, which specifically covers a range of antibiotic and pharmaceutical preparations.
The RECCE® mark is registered under Class 5, encompassing antibiotics for human use and mixed antibiotic pharmaceutical preparations.
This development comes at a crucial time, as more than 25% of bacterial infections in Canada were found to be resistant to first-line antimicrobials in 2018, and that number is only growing.
The Canadian Government has responded to this evolving threat with a five-year action plan spanning 2023 to 2027 to combat antimicrobial resistance (AMR).
Tax incentive in Canada
In addition to the trademark achievement, Recce Pharmaceuticals has benefited from the Scientific Research and Experimental Development (SR&ED) Tax Incentive program in Canada, receiving two R&D rebates to the combined tune of A$275,298.
This program, overseen by the Canada Revenue Agency, encourages companies to pursue research and development within the country, fostering domestic innovation and technological growth.
Chief executive officer James Graham said: “We are pleased to receive this newly registered trademark in Canada, building upon those already registered in the largest pharmaceutical markets of the world.”
About Recce
Recce Pharmaceuticals is at the forefront of combating antibiotic-resistant superbugs and emerging viral pathogens by developing a new class of synthetic anti-infectives.
The company’s innovative pipeline features three patented, broad-spectrum synthetic polymer anti-infectives: RECCE® 327 for intravenous and topical treatment against severe bacterial infections, RECCE® 435 as an oral therapy for bacterial infections, and RECCE® 529 targeting viral infections.
These anti-infectives are designed to thwart the rapid mutation of bacteria and viruses, addressing a significant challenge faced by current antibiotics.
RECCE® 327 has received Qualified Infectious Disease Product designation from the Food and Drug Administration (FDA) under the Generating Antibiotic Initiatives Now (GAIN) Act, which accords it Fast Track Designation and a decade of market exclusivity following approval.
It is the sole synthetic polymer and sepsis drug candidate listed on The Pew Charitable Trusts' Global New Antibiotics in Development Pipeline.
Recce Pharmaceuticals has full control over its automated manufacturing process, which plays a crucial role in supporting ongoing clinical trials.