Communicators

Highlights:

-          US Department of Defense grants funding of US$2 million (approximately A$3 million)

-          Funding to accelerate development of RECCE® 327 Gel (R327G) for acute treatment of burn wound infections and downstream bacteria complications such as sepsis in military setting

-          Recognition of R327G as a topical treatment for Burn Wound Infections

-          R327G to be evaluated as a potential replacement for traditional antimicrobial dressings and topicals used in the military setting

Sydney Australia, 15 July 2024: Recce Pharmaceuticals Limited (ASX:RCE, FSE:R9Q), (Recce , or the Company), the Company developing a New Class of Synthetic Anti-Infectives, is pleased to announce it has been awarded grant funding in the amount of US$2 million (approximately A$3 million) by the US Department of Defense in recognition of RECCE® 327 Gel (R327G) as a topical treatment for Burn Wound Infections.

The grant funding from the US Department of Defense Congressionally Directed Medical Research Programs (CDMRP) will enable the Company to accelerate the development of R327G and evaluate it as a gel-based treatment to rapidly resolve burn wound infections and minimise the onset of bacteraemia complications, such as sepsis. The project’s main aim is to establish the potential for R327G products to be used in a far forward military setting (point-of-injury).

The CDMRP includes the Military Burn Research Program (MBRP) Technology/Therapeutic Development Award, managed by the US Department of Defense that focuses on supporting biomedical research to advance technologies or therapies in areas of critical importance to the military and civilian populations, such as burn wound injuries.

The MBRP Technology/Therapeutic Development Award application is a specific grant application designed to support projects focused on developing technologies or therapies aimed at addressing burn injuries, particularly those relevant to military personnel.

The Company’s application received an overall evaluation of 1.4 (Outstanding) based on a rating scale of 1 (highest merit) to 5 (lowest merit). The Company’s application was assessed on three criteria with a rating scale of 10 (highest merit) to 1 (lowest merit): research strategy and feasibility (8.2); impact and military benefit (8.8); and transition plan and regulatory strategy (9.0).

“Given their excellent preliminary data and the relatively low therapeutic index required in topical antimicrobials, it seems likely that the product would be a success,” said a Scientific Reviewer. A separate Scientific Reviewer commented on the Company’s proposal saying, “If the proposed product is successful, it would improve the quality of life and shorten recovery and healing times for the burned individual”.

Chief Executive Officer of Recce Pharmaceuticals James Graham said "We are honoured by the US Department of Defense’s decision to award grant funding for Recce, as it underscores our commitment to advancing medical solutions critical to military personnel. This recognition is a testament to the unique profile of Recce technology and the high quality of R&D conducted. We look forward to working closely with the US Department of Defense to progress our research efforts and fulfil our commitment to improving global health outcomes.”

In addition to the awarding of the Grant, the Company has successfully completed an A$8 million institutional placement, with an opened share purchase plan (SPP) to raise up to A$2 million, available until 31 July 2024. Investors can access the share purchase plan through the ASX website under the ticker ASX:RCE, Recce’s official website at Company Announcements, or via the Automic website. This strategic financial move underscores Recce's commitment to advancing its innovative therapies and strengthening its market presence.

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

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 (R327) 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 (R435) as an orally administered therapy for bacterial infections; and RECCE® 529 (R529) for viral infections. Through their multi-layered mechanisms of action, Recce’s anti-infectives have the potential to overcome the processes utilised by bacteria and viruses to overcome resistance – a current challenge facing existing antibiotics.

The World Health Organization (WHO) added R327, R435, and R529 to its list of antibacterial products in clinical development for priority pathogens, recognising Recce’s efforts to combat antimicrobial resistance. The FDA granted R327 Qualified Infectious Disease Product designation under the Generating Antibiotic Initiatives Now (GAIN) Act, providing Fast Track Designation and 10 years of market exclusivity post approval. R327 is also included on The Pew Charitable Trusts’ Global New Antibiotics in Development Pipeline as the sole synthetic polymer and sepsis drug candidate in development.

Recce wholly owns its automated manufacturing, supporting current clinical trials. Recce’s anti-infective pipeline aims to address synergistic, unmet medical needs by leveraging its unique technologies.

https://investorhub.recce.com.au