Motif Bio PLC - AIM cash shell which acquired BiVictriX Therapeutics Ltd for GBP5.5 million - Proposes name change to BiVictriX Therapeutics Ltd. Proposes placing and subscription to raise GBP10.1 million via issue of 50.5 million new shares, at a price of 20 pence each. Expects to be admitted on June 15. Anticipates a market capitalisation of GBP16.2 million following admission to AIM under new name.
BiVictriX is a UK-based antibody-drug conjugate discovery and development company which is focused on "leveraging clinical experience to develop a class of highly selective, next generation cancer therapeutics which exhibit superior potency, whilst reducing harmful side-effects".
By Greg Roxburgh; gregroxburgh@alliancenews.com
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