RECCE PHARMACEUTICALS LTD — Capital/Financing Update 2018

Dec 17, 2018

ASX Announcement

Funding Update

Sydney, Australia, 18 December 2018: Recce Pharmaceuticals Ltd (ASX: RCE) today advised Executive Chairman and Chief Research Officer, Dr Graham Melrose will provide the Company with a short term, unsecured loan of A$200,000.

The funds will be used to support the Company’s short-term cash flows as it continues its new class of broad spectrum antibiotic development program.

Under the terms of the loan, Dr Melrose will receive a nominal interest of five per cent per annum, with the principal to be repaid within the next two years.

About Recce Pharmaceuticals Ltd

Recce Pharmaceuticals Ltd (ASX: RCE) is pioneering the development and commercialisation of a new class of synthetic antibiotics with broad spectrum activity designed to address the urgent global health problem of antibiotic resistant superbugs. Its patented lead candidate known as RECCE[®] 327 has been developed for the treatment of blood infections and sepsis derived from E. coli and S. aureus bacteria – including their superbug forms. Pre-clinical testing in laboratories and animal models, in Australia and overseas has demonstrated positive results. Recce has a manufacturing facility in Australia and is developing clinical research partners in the USA. The Company has developed an automated process to manufacture its lead compound ahead of first-in-human clinical trials.

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