Recce Pharmaceuticals Awarded AusIndustry Advanced Overseas Finding for Synthetic Anti-Infective Research & Development Program
Recce Pharmaceuticals Ltd (ASX: RCE, FSE: R9Q) has been granted an advanced overseas finding by AusIndustry for its groundbreaking synthetic anti-infective research and development program. This finding, which is one of the largest in Australian history, is a testament to the national importance of Recce’s R&D activities and falls under the R&D Tax Incentive Program administered by the Australian government.
Unlike a grant or upfront payment, this finding is a binding guarantee provided by the Australian government. It extends the 43.5% R&D rebate to cover Recce’s R&D activities anywhere in the world. This means that the company will receive financial support for its research and development endeavors both locally and internationally.
The Australian government will extend the R&D cash rebate to Recce Pharmaceuticals for three years, from July 1, 2022, to June 30, 2025. This support will significantly enhance Recce’s cash position and complements the recent capital raise of $11,000,000. The funding received through the AusIndustry Advanced Overseas Finding will be available as non-dilutive cash when claimed or drawn proportionately against the company’s R&D funding facilities.
Recce Pharmaceuticals is at the forefront of developing a new class of synthetic anti-infectives that aim to address the urgent global health challenges posed by antibiotic-resistant superbugs and emerging viral pathogens. Its anti-infective pipeline includes three patented, broad-spectrum synthetic polymer anti-infectives: RECCE 327, RECCE 435, and RECCE 529.
RECCE 327, designed for the treatment of serious and potentially life-threatening infections caused by Gram-positive and Gram-negative bacteria, has received the Qualified Infectious Disease Product designation from the FDA under the Generating Antibiotic Initiatives Now (GAIN) Act. This designation accelerates its development process and grants Recce Pharmaceuticals 10 years of market exclusivity post-approval. RECCE 327 has also made its way onto The Pew Charitable Trusts Global New Antibiotics in Development Pipeline as the world’s only synthetic polymer and sepsis drug candidate.
Recce Pharmaceuticals solely owns its automated manufacturing facilities, which are supporting ongoing clinical trials. By leveraging its innovative technologies, Recce aims to address unmet medical needs by targeting synergistic opportunities within the field of anti-infectives.
The granting of the AusIndustry Advanced Overseas Finding further validates Recce Pharmaceuticals’ commitment to combating antibiotic resistance and emerging viral threats. This financial support will enable the company to continue its groundbreaking research and development efforts on a global scale. With its unique mechanisms of action, Recce’s anti-infectives hold the potential to overcome the significant challenges currently faced by existing antibiotics.
This news is not only significant for Recce Pharmaceuticals but also for the broader medical and scientific communities. The progress made by the company in synthetic anti-infective research provides hope for a future with more effective treatments against superbugs and viral infections.
As Recce Pharmaceuticals embarks on this next phase of its R&D program, the company remains dedicated to pushing the boundaries of medical science and making a profound impact on global health. The AusIndustry Advanced Overseas Finding serves as a testament to the company’s innovative approach and its vital role in addressing the urgent need for new anti-infective solutions.
In conclusion, with the support of the Australian government through this significant finding, Recce Pharmaceuticals is poised to continue its groundbreaking synthetic anti-infective research and development program. The future holds great promise, as the company’s innovative solutions have the potential to revolutionize the fight against antibiotic-resistant superbugs and emerging viral pathogens.
