Recce Pharmaceuticals (ASX:RCE) has received further non-dilutive funds from Radium Capital of almost $1 million as an advance payment of its R&D Tax Incentive rebate from the Australian government.
Recce said the $973,144 from Radium represents an accountant-verified proportion of its December-February FY23 R&D applicable expenditure.
Recce Pharmaceuticals CEO James Graham said, “We are thrilled to receive this advance of A$973,144 that will provide valuable support in achieving Recce’s near-term clinical milestones.”
The company is developing a new class of synthetic anti-infectives.