Proactive Investors - Run By Investors For Investors

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.

View full RCE profile View Profile

Recce Pharmaceuticals Ltd Timeline

Related Articles

June 21 2019
Belgium-based company’s Nu.Q test screens for colorectal and prostate cancers, and may have the potential to detect ovarian disease endometriosis
May 30 2019
The Toronto-based company’s leading products are Rasuvo and Metoject, a unique formulation of methotrexate that is designed to treat rheumatoid arthritis and other auto-immune diseases
February 23 2019
Broker Hybridan reckons Sareum is “arguably a bargain target for the relatively large group of biotech and pharma companies interested in TYK2 and the wider JAK inhibitor space”

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use