RECCE PHARMACEUTICALS LTD — Capital/Financing Update 2020

Oct 4, 2020

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ASX Announcement

R&D Incentive Rebate Received

Sydney Australia, 5 October 2020: Recce Pharmaceuticals Ltd ( ASX: RCE ), the Company developing New Classes of Synthetic Anti-Infectives, is pleased to announce cash receipt of A$640,049 Research and Development Tax Incentive rebate from the Australian Tax Office for the year ending 30 June 2020.

The amount received reflects Australian R&D expenditure only, the Company has separated claim for local and overseas expenditure, with the vast majority of the Company’s R&D conducted overseas. Filing the latter is in process and is expected to be received soon.

The Australian government Research and Development Tax Incentive rebate supports Recce’s urgent work to help address the global health threat of antibiotic resistance and emerging viral pathogens. The funds are provided to the Company in Cash, without caveat.

Chief Executive Officer James Graham said, “We are appreciative of the support and acknowledgement of our work by the Australian Government. Never has the Company been so well funded and so well positioned to deliver on its near-term milestones.”

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

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About Recce Pharmaceuticals Ltd

Recce Pharmaceuticals Ltd (ASX: RCE) is pioneering the development and commercialisation of New Classes 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 is unique and comprised of broad-spectrum synthetic polymer antibiotics RECCE[®] 327 and RECCE[®] 435, and RECCE[®] 529 for viral infections with unique mechanisms of action against hyper-mutation on bacteria and viruses, respectively.

Patented lead candidate 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. Recce’s new antibiotic compound, RECCE[®] 435, has been formulated for oral use.

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.

Recce wholly owns its automated manufacturing, ready to support first-in-human clinical trials. Recce’s anti-infective pipeline seeks to exploit the unique capabilities of RECCE[®] technologies targeting synergistic, unmet medical needs.

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