RECCE® Compounds Selected by CSIRO/Doherty Institute in Priority 1 Candidate Group for SARS-CoV-2 Antiviral Screening Program

Highlights:

• RECCE® 327 and New RECCE® 529 compounds were selected for their unique mechanism of actions against hyper-mutation, as indicated on bacteria and viruses (respectively)
• Testing program will be conducted by CSIRO & University of Melbourne at the Doherty Institute
• Therapeutic antiviral treatment focus of RECCE® 327 and RECCE® 529 may see added potential benefit against secondary bacterial infections

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Sydney Australia, 8 July 2020: Recce Pharmaceuticals Ltd (ASX: RCE) (Company), the Company developing New Classes of Synthetic Anti-infectives, today announced it has entered into an Antiviral SARS-CoV-2 Screening Program Agreement, with The Commonwealth Scientific and Industrial Research Organisation (CSIRO) and the University of Melbourne at The Peter Doherty Institute for Infection and Immunology (‘Doherty Institute’) following their selection of RECCE® 327 and RECCE® 529’s in the Priority 1 candidate group.

According to the Program Selection Guidelines, Priority 1 status is defined as “highest or strong likelihood of antiviral or antiseptic efficacy – Compounds in this grouping will be eligible for stage 1 laboratory screening trials”.

RECCE® 327 is a broad-spectrum synthetic antibiotic formulated using synthetic polymer technology to treat blood infections and sepsis. RECCE® 529 is a new synthetic polymer formulation, built upon the Company’s anti-infective expertise.

Submissions were assessed by a panel of scientific experts in virology, antivirals, medicinal chemistry and the clinical trial of antiviral drugs. The SARS-CoV-2 Antiviral Screening Program evaluating the Company’s compounds is a three step process involving (1) In-vitro screening/testing, (2) Ex-vivo testing using a model of human epithelial lung cells at Doherty Institute and (3) In-vivo (ferrets) in CSIRO’s Australian Centre for Disease Preparedness.

The Program is part of the Australian Government’s efforts to identify promising anti-viral candidates and fast-track research into potential treatments for COVID-19. All intellectual property rights are retained by the Company, with the full program expected to take some months and updates to be made available on material developments as the program advances.

The expenditure is staged and the Company expects the first stage to be an immaterial amount of approximately $35K. If testing progresses, costs will increase at each stage. The Company will make announcement in relation to progress to any further stage, and will detail in those announcement any material associated costs.

Dr. John Prendergast, Recce Pharmaceuticals Non-Executive Chairman said, “We are very pleased to have been selected by the CSIRO, one of the largest and most diverse scientific research organisations in the world, to investigate the efficacy of two of our promising compounds against SARS-CoV-2. The compounds’ unique, universal mechanisms of action indicate potential to attack a broad range of viruses and as well, overcome the threat of viruses’ typical hyper-mutation into new and deadly pathogens.”

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About Recce Pharmaceuticals Ltd (ASX: RCE)

Recce Pharmaceuticals Ltd (ASX: RCE) is pioneering the development and commercialisation of a new class of synthetic antibiotics with broad-spectrum activity designed to address the urgent global health problem of antibiotic-resistant superbugs.

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