RECCE PHARMACEUTICALS LTD — Capital/Financing Update 2019

Jan 17, 2019

ASX Announcement

Funding Update

Sydney, Australia, 18 January 2019: Further to the announcement made to the market on 18 December 2018, Recce Pharmaceuticals Ltd (ASX: RCE) ( Company ) today advises that Executive Chairman and Chief Research Officer, Dr Graham Melrose will provide the Company with a short term, unsecured loan of A$50,000. Further to the loan offered by Dr Melrose, Executive Director James Graham will also provide the Company with a short term, unsecured loan of A$100,000.

The A$150,000 in additional funds from these loans will be used to support the Company’s shortterm cash flows as it continues its new class of broad spectrum antibiotic development program.

Under the terms of the loans, Dr Melrose and Mr Graham 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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