LONDON (Alliance News) - Motif Bio PLC said it plans to raise GBP10 million via an accelerated bookbuild exercise, which will launch on Thursday.
The funds raised will be used by the biopharmaceutical company to strengthen balance sheet and fund near term investments for iclaprim, the company's novel antibiotic.
Peel Hunt LLP is acting as bookrunner in relation to the share placing.
Motif Bio shares were trading down 5.7% midday Thursday at 31.82 pence each.