Recce Pharmaceuticals Granted New Patent in Israel for RECCE Anti-Infectives

SYDNEY, Australia, April 04, 2024 (GLOBE NEWSWIRE) -- Recce Pharmaceuticals Ltd (ASX: RCE, FSE: R9Q), the Company developing a new class of synthetic anti-infectives, today announced that the State of Israel Patent Office has formally granted Recce a new family four patent (patent number: 295116), “Process for Preparation of Biologically Active Copolymer Comprising an Acrolein Derivative and a Polyalkylene Glycol Oligomer,” with expiry in 2041.

“We are thrilled to have received this newly granted patent in Israel,” said James Graham, Chief Executive Officer of Recce Pharmaceuticals. “This patent is a welcomed addition to our intellectual property portfolio in a region with a well-established reputation for its world-class facilities, broad international reach, and market value reaching USD $5.3 billion in 2021. We are excited to continue advancing our anti-infective portfolio supporting the Company’s Israeli opportunities over the time ahead.”

The Israel Patent claims relate to RECCE 327 (R327) and RECCE 529 (R529), including:

• Process for preparation of RECCE anti-infectives
• Use of R327/R529 for the treatment of disease, particularly in the treatment of bacterial infections, viral infections, and more
  • Specifically, further validating RECCE anti-infectives from studies in burn wounds, urinary tract infections, gonorrhea, influenza, SARS-CoV-2, and more
• Administration by oral, inhalation, transdermal delivery, or by injection (into the bloodstream, intramuscular, and/or intravenous)
• Administration may also be applied as an aerosol, gel, topical foam, or ointment (or impregnated into a dressing for application to skin or mucous membranes for transdermal or transmucosal delivery)
  

This is the first of Recce’s wholly-owned patents granted in Israel, with further Patent Cooperation Treaty Country (PCT) submissions currently under review.

Israel’s pharmaceuticals and biotechnology market has a reputation for high R&D spending and an impressive international reach, with world-class export numbers and a growing market value. In 2021, Israel’s pharmaceutical market reached $5.3 billion, spending 8.3% of GDP on healthcare in 2020,¹ up from 6.8% in 2000, placing Israel as one of the fastest healthcare spending growth countries. The Central Bureau of Statistics has predicted that the elderly population in Israel will increase by 77%, accounting for 14.3% of the population by 2040. As a result, it is estimated that the Israeli pharmaceutical market will see growth on the back of the aging population due to the increasing burden of chronic diseases.²