RECCE PHARMACEUTICALS LTD — Capital/Financing Update 2024

Nov 13, 2024

ASX Announcement

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AUD $6.75m R&D Rebate Approved

SYDNEY Australia, 14 November 2024: Recce Pharmaceuticals Ltd ( ASX: RCE , FSE: R9Q ) (the Company ), the Company developing a new class of Synthetic Anti-infectives, is pleased to announce cash refund of AUD $6,751,176.12 Research and Development (R&D) Tax Incentive rebate from the Australian Taxation Office for the financial year ending 30 June 2024.

The AUD $6,751,176.12 reflects R&D activities undertaken locally and overseas, provided to the Company in cash, without caveat. This receipt was used to repay advances from Endpoints Capital reflecting R&D rebate credits for FY24. The advances Endpoints provide as part of their services, enable the Company to leverage its R&D benefits of the past, present and future R&D applicable expenditure.

The Australian Government’s 43.5% Research & Development Tax Incentive rebate, backs Australian Innovation, providing expanded benefit to the Company by allowing it to capture 43.5% of the Company’s R&D applicable activities, undertaken anywhere in the world.

Recce Pharmaceuticals' CEO, James Graham said "We are delighted to receive this substantial R&D Tax Incentive rebate, which underscores the Australian Government's strong support for innovation in life sciences. This funding strengthens our ability to drive forward our R&D initiatives both domestically and internationally, accelerating our mission to develop cutting-edge anti-infective solutions. By leveraging this rebate, we continue to push the boundaries of synthetic anti-infective development, positioning Recce to deliver meaningful advancements in infection treatment on a global scale."

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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.

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