Recce Pharmaceuticals Ltd has secured a non-dilutive debt facility of up to A$30 million (US$20 million) from Avenue Capital Group, significantly boosting its financial position. An initial A$11.5 million (US$7.5 million) will support Phase 3 clinical trials of lead anti-infective candidate R327G in Australia and Indonesia, targeting diabetic foot infections (DFI) and acute bacterial skin and skin structure infections (ABSSSI).
Combined with a recent A$15.8 million equity raise and an expected A$8.5 million R&D rebate, Recce now holds a pro-forma cash runway of approximately A$36 million.
CEO James Graham said the deal strengthens the company’s capital base without shareholder dilution, as it prepares for R327G’s targeted commercial launch in 2026.
Chairman of Avenue Capital Mark Lasry said Recce’s platform and leadership align with their mission to back companies with global impact.
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