LONDON (Alliance News) - Amphion Innovations PLC on Friday said it sold 1.8 million shares in partner pharmaceutical company Motif Bio PLC to repay a loan facility.
Amphion made USD144,000 from the sale, of which two thirds will be used to reduce the loan balance and one third for working capital.
Following the sale, Amphion holds 23.4 million Motif Bio shares, representing 7.88% of the firm's issued share capital, from 8.51% previously.
Amphion Innovation shares were untraded at 0.38 pence each, while Motif Bio's were down 6.9% at 5.40p each.