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Highlights
- Recce Pharmaceuticals received over A$6.75 million as an R&D Tax Incentive rebate.
- Funds to support global R&D initiatives, including upcoming clinical trials.
- Rebate reinforces Australia's commitment to life science innovation.
Recce Pharmaceuticals (ASX:RCE), an innovative leader in synthetic anti-infective development, has received a substantial R&D Tax Incentive rebate exceeding A$6.75 million from the Australian Taxation Office. This funding is pivotal for Recce's mission to combat infections globally with new-generation anti-infective solutions.
CEO James Graham expressed enthusiasm for the rebate, highlighting it as a significant endorsement of Recce’s work and of Australian Government support for life sciences. According to Graham, this rebate is a testament to Australia's commitment to fostering innovation in healthcare and enables Recce to advance its R&D efforts. “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,” said Graham. The funds will enable Recce to continue pioneering advancements in synthetic anti-infectives, particularly in areas with high unmet needs.
Backing Australian Innovation with R&D Incentives
The A$6,751,176.12 rebate reflects Recce’s extensive R&D work over the past year, with activities conducted both in Australia and abroad. As part of their funding strategy, Recce utilized this rebate to repay advances received from Endpoints Capital. These advances, tied to R&D rebate credits, help ensure Recce can maximize its R&D benefits over the past, present, and future applicable expenditures. Through the Australian Government’s 43.5% R&D Tax Incentive rebate, companies like Recce can reclaim a portion of their R&D costs, creating a favorable environment for life sciences research within Australia.
This rebate is particularly beneficial for Recce, enabling it to recoup nearly half of its eligible R&D expenses, a critical support as the company drives its initiatives forward. The funding boost facilitates the continued development of synthetic anti-infectives that Recce aims to bring to a global market.
Ethics Approval for Phase 3 Clinical Trial in Indonesia
This week, Recce reached another significant milestone with the receipt of ethics approval to commence a Phase 3 clinical trial of RECCE® 327 in Indonesia. Approval from the Human Research Ethics Committee enables Recce to move forward with its Registrational Phase 3 trial for RECCE® 327, a topical gel formulated to treat diabetic foot infections (DFIs). This advancement marks an essential step for Recce as it works to address serious infection challenges with its novel anti-infective treatment.
By focusing on expanding its global reach and continuing R&D on synthetic anti-infectives, Recce Pharmaceuticals remains committed to addressing urgent health needs worldwide, supported by both national incentives and strategic clinical trials.
