Recce Pharmaceuticals Ltd (ASX:RCE, OTC:RECEF) has picked up a grant of US$2 million (around A$3 million) from the US Department of Defense to advance the development of RECCE® 327 Gel (R327G) for the acute treatment of burn wound infections and related complications such as sepsis.
Accelerated development
This funding, provided through the Congressionally Directed Medical Research Programs (CDMRP), will enable Recce to accelerate R327G’s development.
R327G gel-based treatment can swiftly resolve burn wound infections and mitigate the risk of bacteraemia complications.
The project is focused on assessing R327G’s potential as a replacement for traditional antimicrobial dressings and topicals in military settings.
The CDMRP, which includes the Military Burn Research Program (MBRP) Technology/Therapeutic Development Award, supports biomedical research that advances technologies or therapies for critical military and civilian needs, such as burn wound injuries.
'Outstanding' evaluation
Recce’s application received an ‘Outstanding’ evaluation score of 1.4, on the back of high marks for research strategy, military benefit and transition plan.
CEO James Graham said: "We are honoured by the US Department of Defense’s decision to award grant funding for Recce, as it underscores our commitment to advancing medical solutions critical to military personnel.
“This recognition is a testament to the unique profile of Recce technology and the high quality of R&D conducted.
“We look forward to working closely with the US Department of Defense to progress our research efforts and fulfil our commitment to improving global health outcomes.”
In other news, Recce Pharmaceuticals has completed an A$8 million institutional placement and opened a share purchase plan (SPP) to raise up to A$2 million, available until July 31.
About Recce Pharmaceuticals
Recce Pharmaceuticals is developing a new class of synthetic anti-infectives to combat antibiotic-resistant superbugs and emerging viral pathogens.
The company’s pipeline includes RECCE® 327 (R327), RECCE® 435 (R435) and RECCE® 529 (R529), all of which have received recognition from the World Health Organization and the US Food and Drug Administration for their potential to address global health challenges.