Recce Pharmaceuticals (ASX: $RCE) R&D Tax Incentive Rebate Announcement

Recce Pharmaceuticals Ltd (ASX: $RCE) has announced the approval of a further cash refund of AUD $2,624,860.47 Research and Development (R&D) Tax Incentive rebate from the Australian Tax Office for the financial year ending 30 June 2023. The rebate reflects R&D activities specifically undertaken overseas and is provided to the Company in cash, without caveat. This rebate, in addition to the Australian portion received late in 2023, brings the FY23 R&D rebates to completion.

Recce Pharmaceuticals CEO, James Graham, expresses gratitude for Australian Government support

Recce Pharmaceuticals' CEO, James Graham, expressed gratitude for the ongoing support and recognition from the Australian Government regarding their vital work in Infectious Disease programs. He noted, 'This non-dilutive funding greatly supports our cashflow requirements not only locally in Australia but extended to our activities anywhere overseas and thank the Australian Government for their on-going support.'

Recce Pharmaceuticals R&D Tax Incentive Rebate Summary

Recce Pharmaceuticals Ltd (ASX: $RCE) has received a further cash refund of AUD $2,624,860.47 Research and Development (R&D) Tax Incentive rebate from the Australian Tax Office for the financial year ending 30 June 2023. The rebate, which reflects R&D activities specifically undertaken overseas, is provided to the Company in cash, without caveat. This additional funding supports the Company's cashflow requirements locally in Australia and extends to their activities overseas. The Australian Government's 43.5% Research & Development Tax Incentive rebate allows Recce Pharmaceuticals to capture 43.5% of the Company's R&D applicable activities, undertaken anywhere in the world. Recce Pharmaceuticals' anti-infective pipeline, including RECCE® 327 (R327), RECCE® 435 (R435), and RECCE® 529 (R529), aims to address urgent global health problems of antibiotic-resistant superbugs and emerging viral pathogens. The Company's efforts have been recognized by the World Health Organization (WHO) and the FDA, positioning their anti-infectives as potential solutions to combat antimicrobial resistance. Recce Pharmaceuticals wholly owns its automated manufacturing, supporting current clinical trials, and aims to address synergistic, unmet medical needs by leveraging its unique technologies.