Recce Pharmaceuticals (ASX:RCE) Secures A$30m Non-Dilutive Financing
Financing Details
Recce Pharmaceuticals has established a debt facility of up to A$30 million with Avenue Capital Group, initially receiving A$11.5 million to support Phase 3 clinical trials in Indonesia and Australia for R327G.
Use of Proceeds
The funding will cover manufacturing, regulatory submissions, and market launch preparations for R327G, and builds upon Recce’s recently successful equity raise of A$15.8m, strengthening the Company’s financial position to pro-forma A$27.5m
Executive Comments
Chief Executive Officer James Graham stated, “This facility marks a significant step in strengthening our capital position at a critical juncture. With our lead candidate R327G now in registrational trials and targeting commercial launch in 2026, this strategic partnership with Avenue Capital Group allows us to advance our clinical programs while preserving shareholder value. Avenue’s support reinforces the commercial potential of our synthetic anti-infectives and their transformative role in combating antimicrobial resistance.”
Motley Fool contributor Matt Burgess has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.
