Recce Pharmaceuticals Ltd (ASX: RCE, FSE: R9Q), a company developing a new class of Synthetic Anti-infectives, has announced the receipt of an AUD $5,339,202 Research and Development (R&D) Tax Incentive rebate from the Australian Taxation Office for the financial year ending 30 June 2025. The rebate reflects R&D activities undertaken both locally and overseas and has been provided to the company in cash, without caveat. This substantial refund will be directed towards funding Recce’s R&D programs, including the ongoing Phase 3 Clinical Trial in Indonesia, and further domestic clinical programs.
The Australian Government’s 43.5% Research & Development Tax Incentive rebate aims to support Australian innovation, benefiting the company by allowing it to capture 43.5% of its R&D applicable activities, irrespective of where they are undertaken globally. Recce Pharmaceuticals is focused on developing a New Class of Synthetic Anti-Infectives designed to address the urgent global health problems of antibiotic-resistant superbugs. The company’s anti-infective pipeline includes three patented, broad-spectrum, synthetic polymer anti-infectives.
In addition to the received rebate, Recce Pharmaceuticals has lodged a further R&D Tax Incentive submission in respect of additional eligible activities. Subject to review and approval by the Australian Taxation Office, the company anticipates a further cash refund of approximately AUD $3.0 million. This additional refund would complete the company’s FY25 R&D rebate and provide further non-dilutive funding.
Recce Pharmaceuticals’ CEO, James Graham, said the funds received provide further confidence in the company’s objectives and support the continued progression of Recce’s anti-infective portfolio. He also expressed appreciation for the Australian Government’s ongoing commitment to supporting innovation and R&D, and conveyed his anticipation of delivering important milestones as the company advances its new class of synthetic anti-infectives. This announcement has been approved for release by Recce Pharmaceuticals Board.
