Recce Pharmaceuticals (ASX: $RCE) receives significant R&D funding

Recce Pharmaceuticals Ltd (ASX: $RCE) has been awarded an Advanced Overseas Finding for AU$43,774,907 of Synthetic Antibiotic Research & Development (R&D) applicable expenditure by AusIndustry, a division of the Australian Government's Department of Industry, Innovation and Science. This finding, one of the largest in Australian history, extends the 43.5% R&D rebate to cover the company's R&D activities worldwide for a period of three years (1 July 2022 to 30 June 2025).

Recce Pharmaceuticals CEO expresses gratitude for government support

Recce Pharmaceuticals CEO James Graham expressed gratitude to AusIndustry and the Department of Industry, Innovation, and Science for their ongoing crucial support in advancing science and its practical applications, particularly in the development of innovative therapies with a global impact. He emphasized that this development is a further endorsement of the Company's growth potential and secures their caveat-free R&D funding long-term.

Recce Pharmaceuticals poised for long-term R&D funding and growth

Recce Pharmaceuticals Ltd (ASX: $RCE) has been awarded a significant Advanced Overseas Finding for Synthetic Antibiotic Research & Development (R&D) applicable expenditure by AusIndustry, a division of the Australian Government's Department of Industry, Innovation and Science. This finding extends the R&D cash rebate to cover the company's local and overseas R&D activities for a period of three years, providing long-term support for the company's anti-infective program focused on Synthetic Antibiotic Development. The award, in addition to the recent AUD $11,000,000 capital raise, will bolster the Company's cash position and support its R&D funding facilities. CEO James Graham's expression of gratitude underscores the importance of this finding in securing the company's future R&D funding and growth potential.