Recce Pharmaceuticals granted A$3 million boost for infectious disease R&D

Recce Pharmaceuticals Ltd (ASX:RCE, OTC:RECEF), which is developing a new class of Synthetic Anti-infectives, has received A$3,084,955.19 cash as part of a Research and Development Tax Incentive rebate from the Australian Tax Office for the year ending June 30, 2021.

The rebate reflects R&D activities undertaken locally and overseas.

Recce Pharmaceuticals CEO James Graham welcomed the rebate saying, “We appreciate the continued support and acknowledgement by the Australian Government for the critical work undertaken in our infectious disease programs.

"This non-dilutionary cash injection furthers our strong financial position to deliver on a series of short and long-term milestones.”

Recce recently received a unanimous recommendation from an independent safety committee to proceed to cohort four of a Phase I intravenous (IV) clinical trial of RECCE® 327 - the only clinical-stage new class of antibiotic in the world being developed for sepsis.

Read: Recce Pharmaceuticals sees safety committee clear next dose in Phase I Clinical Study of sepsis drug RECCE® 327

About Recce

Recce is developing a new class of Synthetic Anti-Infectives designed to address the urgent global health problems of antibiotic-resistant superbugs and emerging viral pathogens.

Recce’s anti-infective pipeline includes three patented, broad-spectrum, synthetic polymer anti-infectives:

• RECCE® 327 as an intravenous and topical therapy that is being developed for the treatment of serious and potentially life-threatening infections due to Gram-positive and Gram-negative bacteria including their superbug forms;
• RECCE® 435 as an orally administered therapy for bacterial infections; and
• RECCE® 529 for viral infections.

Through their multi-layered mechanisms of action, Recce’s anti-infectives have the potential to overcome the hypercellular mutation of bacteria and viruses – the challenge of all existing antibiotics to date.

The FDA has awarded RECCE® 327 Qualified Infectious Disease Product designation under the Generating Antibiotic Initiatives Now (GAIN) Act – labelling it for Fast Track Designation, plus 10 years of market exclusivity post-approval.

RECCE® 327 has also been included on The Pew Charitable Trusts Global New Antibiotics in Development Pipeline as the world’s only synthetic polymer and sepsis drug candidate in development.

RECCE® 327 is not yet market approved for use in humans with further clinical testing required to fully evaluate safety and efficacy.