Recce Pharmaceuticals Ltd, a company specializing in the development of synthetic anti-infectives, has received a cash rebate of A$98,428.27 from the government of Canada. This refund is part of Canada’s Scientific Research and Experimental Development (SR&ED) tax incentive program. It marks the second rebate that the Company has received from the Canadian government.
The SR&ED program, administered by the Canada Revenue Agency, aims to encourage businesses to conduct research and development activities in Canada, thereby promoting innovation and technological advancements. Recce Pharmaceuticals expresses its gratitude for the continued support provided by the Canadian government in relation to its R&D efforts.
The Canadian government’s Research and Development (R&D) rebate complements the Australian government’s 43.5% R&D tax incentive program. This dual support enables Recce Pharmaceuticals to leverage and capitalize on R&D activities not only in Canada but also globally. The Company has been granted two Advanced Overseas Findings, further facilitating its synthetic anti-infective development.
Recce Pharmaceuticals is at the forefront of developing a new class of synthetic anti-infectives to address the pressing global health challenges posed by antibiotic-resistant bacteria and emerging viral pathogens. The Company’s anti-infective pipeline includes three patented, broad-spectrum, synthetic polymer anti-infectives: RECCE327, RECCE435, and RECCE529.
RECCE327 is being developed as an intravenous and topical therapy for the treatment of severe and potentially life-threatening infections caused by both Gram-positive and Gram-negative bacteria, including their superbug forms. RECCE435 is an orally administered therapy for bacterial infections, while RECCE529 focuses on viral infections. These anti-infectives possess multi-layered mechanisms of action that hold the potential to overcome the hypercellular mutation of bacteria and viruses, a challenge faced by existing antibiotics.
Recognition of RECCE327’s significant potential has come from the U.S. Food and Drug Administration (FDA), which awarded the drug Qualified Infectious Disease Product designation under the Generating Antibiotic Initiatives Now (GAIN) Act. This designation grants RECCE327 Fast Track Designation and ensures 10 years of market exclusivity once approved. Additionally, RECCE327 has been included in The Pew Charitable Trusts Global New Antibiotics in Development Pipeline as the world’s only synthetic polymer and sepsis drug candidate. However, it is important to note that RECCE327 is not yet approved for use in humans, and further clinical testing is required to thoroughly evaluate its safety and efficacy.
Recce Pharmaceuticals fully owns its automated manufacturing facilities, supporting its present clinical trials. The Company’s anti-infective pipeline aims to exploit the unique capabilities of its technologies in targeting synergistic unmet medical needs.
In conclusion, Recce Pharmaceuticals’ receipt of a cash rebate from the government of Canada reaffirms its dedication to advancing Research and Development in the field of synthetic anti-infectives. With the support of the Australian and Canadian governments, Recce Pharmaceuticals is well-positioned to tackle antibiotic-resistant superbugs and emerging viral pathogens while driving innovation and global health advancements.
