viewRecce Pharmaceuticals Ltd

Recce Pharmaceuticals attracts $1.8 million as it moves toward human clinical trials

The company’s lead candidate RECCE® 327 has been developed for the treatment of blood infections and sepsis derived from E. coli and S. aureus bacteria.

Substantial support for the capital raising

Recce Pharmaceuticals Ltd (ASX:RCE) has raised about $1.8 million from sophisticated and institutional investors via a share placement at 14 cents per share.

The funds raised will be used to strengthen Recce’s balance sheet as the company advances its new class of broad-spectrum antibiotic towards approval to start human clinical trials.

Recce has already received the Qualified Infectious Disease Product designation from the US Food and Drug Administration (US FDA) under the Generating Antibiotics Initiative Now (GAIN) Act.

In addition, the funds will be used to further pre‐clinical programs, for general working capital and repayment of $200,000 loaned by the directors.


Recce founder and chairman Dr Graham Melrose said: “We are encouraged by the substantial support for the capital raising, as we continue to advance RECCE® 327 in its preclinical pipeline.

“This will keep the company in a strong position to move decisively and expediently towards its first human use.”

The company’s patented lead candidate RECCE® 327 has been developed for the treatment of blood infections and sepsis derived from E. coli and S. aureus bacteria – including their superbug forms.

Pre-clinical testing in laboratories and animal models, in Australia and overseas has demonstrated positive results.

Recce has a manufacturing facility in Australia and is developing clinical research partners in the USA.

The company has developed an automated process to manufacture its lead compound ahead of first-in-human clinical trials.

Quick facts: Recce Pharmaceuticals Ltd

Price: 1.05 AUD

Market: ASX
Market Cap: $182.4 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Recce Pharmaceuticals Ltd named herein, including the promotion by the Company of Recce Pharmaceuticals Ltd in any Content on the Site, the...


Recce Pharmaceuticals on track to develop synthetic antibiotics targeting...

Recce Pharmaceuticals Ltd (ASX:RCE) executive director James Graham tells Proactive Investors the company is on the verge of developing a new class of synthetic antibiotics to counter antibiotic resistance.   As fears of superbugs may one day reach pandemic proportions, Graham...

on 29/5/19

2 min read