Recce Pharmaceuticals Dual Lists on Frankfurt Stock Exchange
Released
Released
Announcement PDF
ASX Announcement
Recce Pharmaceuticals Dual Lists on Frankfurt Stock Exchange
Highlights:
•
Shares now trading on major German Trading Exchanges
•
Shares trade under code: R9Q
•
No related capital raising - trade of existing securities with trade volume to
increase on ASX
•
Expected to broaden institutional and retail investor base across EU, in-line
with increasing activity in the region
Sydney Australia, 8 March 2021: Recce Pharmaceuticals Ltd (ASX:RCE), is pleased to
announce the Company’s shares are now Dual Listed on the Frankfurt Stock Exchange (FSE),
with trading commencing Monday 8 March at 8:00am (CET) under the code R9Q.
The dual listing sees trading of the Company’s securities on German Trading Exchanges:
Frankfurt, Tradegate, Munich, Stuttgart and Gettex.
The dual listing was possible without many of the primary listing procedures, seeing a widening
of investor reach with minimal cost. There is no associated capital raising due to the Company’s
strong existing financial position and sees no issuance of new securities due to the Company
being listed and market-makable via the ASX.
Dr. John Prendergast, Chairman of Recce Pharmaceuticals Ltd said, “Dual-listing on the Frankfurt
Stock Exchange is a wonderful new chapter in our global strategy. As the third largest stock
exchange in the world, it sees the connection of EU biotech and overseas capital with the
Company’s New Classes of Synthetic Anti-Infectives development program.”
Mr. Stefan Müller, CEO of DGWA, said: “DGWA are thrilled to be working with Recce in Europe.
Investor interest in quality biotechnology companies is significant and increasing with the global
anti-infective market expected to grow at a compound rate of over 30% to 2030 and anticipate
this German listing will provide EU investors an opportunity to participate in that growth. We are
confident Recce will be warmly welcomed among the European investment community and look
forward to supporting their activity in the region over the time ahead.”
This announcement has been approved for release by Recce Pharmaceuticals Board.
About Recce Pharmaceuticals Ltd
Recce Pharmaceuticals Ltd (ASX: RCE) is pioneering the development and commercialisation of
New Classes of Synthetic Anti-Infectives designed to address the urgent global health problems of
antibiotic resistant superbugs and emerging viral pathogens.
Recce’s anti-infective pipeline is unique and comprised of broad-spectrum synthetic polymer
antibiotics RECCE® 327, RECCE® 435, and RECCE® 529 for viral infections with unique
mechanisms of action against hyper-mutation on bacteria and viruses, respectively.
Patented lead candidate RECCE® 327 has been developed for the treatment of blood infections and
sepsis derived from E. coli and S. aureus bacteria – including their superbug forms. Recce’s new
antibiotic compound, RECCE® 435, has been formulated for oral use.
The FDA has awarded RECCE® 327 Qualified Infectious Disease Product designation under the
Generating Antibiotic Initiatives Now (GAIN) Act – labelling it for Fast Track Designation, plus 10
years of market exclusivity post approval.
Recce wholly owns its automated manufacturing, ready to support first-in-human clinical trials.
Recce’s anti-infective pipeline seeks to exploit the unique capabilities of RECCE® technologies
targeting synergistic, unmet medical needs.
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