249 0 Kommentare Recce Pharmaceuticals Receives Second Canadian Scientific Research and Experimental Development Rebate

SYDNEY, Australia, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Recce Pharmaceuticals Ltd (ASX: RCE, FSE: R9Q) (the Company), the Company developing a new class of synthetic anti-infectives, is pleased to announce the international cash receipt of A$98,428.27 from the government of Canada as part of its Scientific Research and Experimental Development (SR&ED) tax incentive program. This is the second rebate the Company has received from the Canadian government.

The Canadian government’s Research and Development (R&D) rebate is in addition to the Australian government’s 43.5% R&D tax incentive program. The Company is uniquely placed to further claim and capture R&D applicable activities in Canada and globally via the award of two Advanced Overseas Findings to the Company in support of its synthetic anti-infective development.

The SR&ED program is administered by the Canada Revenue Agency and aims to incentivize businesses to conduct R&D in Canada, encouraging innovation and technological advancements.

The Company thanks the Canadian government’s continued support surrounding its R&D activities.

About Recce Pharmaceuticals Ltd
Recce Pharmaceuticals Ltd (ASX: RCE, FSE: R9Q) 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. Further to this designation, RECCE 327 has 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.