Recce Pharmaceuticals Ltd (ASX:RCE, OTC:RECEF) has secured a new patent for its anti-infective treatments in Israel after the State of Israel Patent Office formally announced the grant.
The Israel Patent covers RECCE® 327 (R327) and RECCE® 529 (R529), specifically protecting the process for preparation, the use of R327/R529 for the treatment of disease, particularly in treatment of bacterial infections, viral infections and more.
It also covers administration by oral, inhalation, transdermal delivery or by injection and administration by an aerosol, gel, topical foam or ointment.
Market growing rapidly
“We are thrilled to have received this newly granted patent in Israel,” Recce Pharmaceuticals CEO James Graham said.
“This patent is a welcomed addition to our intellectual property portfolio, in a region with a well-established reputation for its world-class facilities, broad international reach and market value reaching US$5.3 billion in 2021.
“We are excited to continue advancing our anti-infective portfolio supporting the company’s Israeli opportunities over the time ahead.”
In 2020, Israel spent 8.3% of its GDP on healthcare, growing its domestic market to US$5.3 billion in 2021. With the population ageing in Israel as it is in many developed countries, the healthcare and pharmaceutical market is expected to grow rapidly by 2040.
This is the first of Recce’s wholly owned patents granted in Israel, with further Patent Cooperation Treaty Country (PCT) submissions in respective stages of review/allowed.