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11.08.2021
Recce Pharmaceuticals Receives Entrepreneurs’ Programme Innovation Connections Grant

Highlights:

 

-          Recce awarded second grant of AUD $50,000 plus GST by the Australian Government Department of Industry, Science, Energy and Resources as part of the Entrepreneurs’ Programme

 

-          The grant will be directed towards assessing R327 in Stage 2 of the Australian SARS-CoV-2 Antiviral Screening Program

 

-          The Company has a received a total of AUD $87,508 plus GST over the course of the program

 

Sydney Australia, 11 August 2021: Recce Pharmaceuticals Ltd (ASX:RCE, FSE:R9Q) (Company), the Company developing New Classes of Synthetic Anti-infectives, today announced it has received the second grant from the Innovation Connections scheme of AUD $50,000 plus Goods and Services Tax (GST) under the Australian Government’s Entrepreneurs’ Programme.

 

RECCE® 327 (R327) was accepted into the SARS-CoV-2 Antiviral Screening Program, a fee-for-service research program led by Commonwealth Scientific and Industrial Research Organisation (CSIRO) and has successfully completed Stages 1 and 1B. Based on those successful results, the Company received a qualified recommendation to advance to Stage 2 of the Program at CSIRO’s Australian Centre for Disease Preparedness (ACDP).

 

Samples of R327 have been received by ACDP with testing expected to start in September and take a number of months. All intellectual property rights are retained by the Company.

 

The Innovation Connections scheme assists businesses in establishing research priorities, locating researchers, and providing access to funding to enable R&D projects. The Company has now received a total of AUD $87,508 plus GST following achievement of milestones.

 

Chief Executive Officer, James Graham said, “We are pleased to receive this further grant from the Australian Government Entrepreneurs’ Programme to further study the efficacy of R327 against SARS-CoV-2 at CSIRO. Like bacteria, COVID viral cells are mutating at an unprecedented rate, with a significant and growing global need for potential anti-infective treatments

 

This announcement has been approved for release by Recce Pharmaceuticals Board.

 

About Recce Pharmaceuticals Ltd

 

Recce Pharmaceuticals Ltd (ASX: RCE, FSE: R9Q) is pioneering the development and commercialisation of New Classes 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 is unique and comprised of broad-spectrum synthetic polymer antibiotics RECCE® 327, RECCE® 435, and RECCE® 529 for viral infections with unique mechanisms of action against hyper-mutation on bacteria and viruses, respectively.

 

Patented lead candidate RECCE® 327 as an intravenous therapy, is being developed for treatment of serious and potentially life-threatening infections including sepsis due to Gram-positive and Gram-negative bacteria including their superbug forms. Recce’s new antibiotic compound, RECCE® 435, has been formulated for oral use.

 

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. Further to this designation, RECCE® 327 has been included on The Pew Charitable Trusts Global New Antibiotics in Development Pipeline as the only synthetic polymer and sepsis drug candidate in development.

 

Recce wholly owns its automated manufacturing, ready to support first-in-human clinical trials. Recce’s anti-infective pipeline seeks to exploit the unique capabilities of RECCE® technologies targeting synergistic, unmet medical needs.

 



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