- 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 Australian Stock Exchange (ASX)
- Expected to broaden institutional and retail investor base across EU, in-line with increasing activity in the region
SYDNEY, Australia, March 09, 2021 (GLOBE NEWSWIRE) -- Recce Pharmaceuticals Ltd (ASX:RCE) (Company), the Company developing new classes of synthetic anti-infectives is pleased to announce the Company’s shares are now Dual Listed on the Frankfurt Stock Exchange (FSE).
Trading commenced Monday, March 8 at 8:00 a.m. (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.”
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.
Recce Pharmaceuticals Ltd
+61 (02) 8075 4585
Media and Investor Relations (AU)
+61 (02) 9267 4511
Media and Investor Relations (USA)
Meredith Sosulski, Ph.D.
+1 929 469 3851