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Recce Pharmaceuticals (RCE) receives $801,604 from Radium Capital as part of Recce’s future research and development tax incentive

The company is now over $3 million in rebates for its R&D activities through FY23

RCE CEO James Graham says the company welcomes the funding to support its ongoing clinical progress

Recce shares are up 1.59 per cent, trading at 64 cents at 1:33 pm AEST

Recce Pharmaceuticals (RCE) has pocketed further funds from Radium Capital.

The company reported non-dilutive funds worth $801,604 of Recce’s future research and development (R&D) tax incentive.

The payment from Radium represents an accountant-verified proportion of Recce’s March to May FY23 R&D applicable expenditure.

The non-dilutive funds come in addition to the recently reported $973,144, seeing $3,682,787 of future R&D credit-backed funds received and redeployed this financial year to date.

“We welcome the latest R&D rebate advance to support our ongoing clinical progress,” Recce Pharmaceuticals CEO James Graham said.

The Australian Government’s 43.5 per cent research and development tax incentive rebate is typically reserved for Australian-based R&D only. However, in some instances, companies can also capture the rebate for overseas activities — as reflected in Recce’s rebate.

Recce shares were up 1.59 per cent, trading at 64 cents at 1:33 pm AEST.

Read the full article here: https://themarketherald.com.au/recce-pharmaceuticals-asxrce-receives-801k-through-rd-advance-2023-07-12/

Recce Pharmaceuticals (ASX:RCE) receives $801k through R&D advance