$12.4 Million Funds A New Class of Synthetic Anti-Infectives

Recce Pharmaceuticals Limited today announced it had raised a total of A$12.4 million through a recently completed institutional placement.

On July 15, 2024, the US Department of Defense awarded the Company a grant for US$2 million.

As of August 5, 2024, the Company's pro forma cash position was A$19.8 million.

The Company confirmed it will advance clinical trials for intravenous use of developing a new class of synthetic anti-infective RECCE® 327 (R327) and topical applications of R327G, including Phase III clinical activities in Indonesia and IND-enabling activities.

RECCE® 327 is an intravenous and topical therapy being developed for the treatment of severe and potentially life-threatening infections caused by both Gram-positive and Gram-negative bacteria, including their superbug forms, such as Urinary Tract Infections, which are common infectious diseases caused by pathogens, such as Escherichia coli.

According to the World Health Organization, RECCE® 327 was added to the List of Antibacterial Products in Clinical Development in June 2024. It is the only compound classified as an adenosine triphosphate production disruptor.

As of April 2024, the Company was producing 5,000 GMP doses of RECCE® 327 per week. However, this product is not market-approved for human use.