Recce Pharmaceuticals shares slide despite securing patent protection in Vietnam
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The news: Shares in Recce Pharmaceuticals fell in afternoon trade despite the biotech company securing a patent in Vietnam for its flagship anti-infective treatment, extending intellectual property protection for its drug candidates through 2041.
Shares fell 3.8% to 0.37 cents at 12:04pm AEST.
The context: The patent claims protect the manufacturing process and therapeutic use of Recce’s R327 and R529 anti-infectives candidates for treating a broad range of bacterial and viral infections.
The intellectual property marks the company’s eighth granted family 4 patent, joining major global pharmaceutical markets including Australia, Canada, China, Hong Kong, Israel, Japan and Brazil.
The company stated that securing patent protection in Vietnam is a strategically important milestone as it is Southeast Asia’s fastest growing pharmaceutical market, projected to reach between USD10 billion ($14 billion) and USD16 billion by 2026.
Furthermore, Recce highlighted that Vietnam faces one of the most severe antibiotic resistance crises in Asia and the highest rate of drug-resistant bacteria, reinforcing the urgent need for novel therapies capable of addressing multi-drug-resistant pathogens.
What they said: “As antibiotic resistance continues to pose a significant global health challenge, expanding our patent coverage supports our strategy to advance and commercialise our novel anti-infective platform worldwide,” Recce CEO James Graham said.
The source: ASX
