Lamellar!!!4 May 2020 08:19
Here's confirmation of the Lamellar connection. Gla ;-)
RNS Number : 7166L
Motif Bio PLC
04 May 2020
Directorate Changes & Corporate Update
Motif Bio plc (AIM: MTFB), which has been reclassified as an AIM Rule 15 cash shell, announces the following changes to the Board, with immediate effect:
- Chris Wardhaugh is appointed as a Non-Executive Director;
- Jonathan Gold, the Company's current Chief Financial Officer ('CFO'), has been appointed as President and Chief Business Officer;
- Graham Lumsden, the Company's Chief Executive Officer ('CEO'), will step down from his role as CEO and become a Non-Executive Director; and
- Bruce Williams continues in his role as Chairman.
Christopher (Chris) Wardhaugh
Chris is currently a Non-Executive Director of Altair Medical Limited and Lamellar Biomedical Limited, both based in Scotland. Chris is also Chief Business Officer of MGB Biopharma Limited, a clinical-stage antibiotic company and is the founder of Sercader Limited, a life sciences advisory firm.
Chris has over 28 years' experience in life sciences with international experience across large and small companies, all stages of development and commercialisation of companies including preclinical and clinical development, product launches throughout Europe and the United States, M&A and corporate development. Chris has an impressive transaction history working on deals including product licensing, IPOs and both Angel and VC investments.
Commenting, Bruce Williams, Chairman of Motif Bio, said: "We welcome Chris to the Board as we focus on sourcing an appropriate reverse takeover candidate for Motif Bio. We believe that the Company will benefit from Chris's breadth of knowledge and transactional experience and we will provide shareholders with further updates in due course."
Jonathan Gold
Jonathan Gold is appointed President and Chief Business Officer, an expanded role that includes his previous responsibilities as CFO.
Graham Lumsden
Graham has stepped down from his role as CEO, a role he has had since the Company's IPO in 2015. Graham will continue to support the Company as a Non-Executive Director.
Current Financial Position
The Directors of Motif Bio have continued to impose disciplined cost controls, with the Company maintaining very limited operations. As a result, Motif Bio's cash balance is approximately £0.23 million as at 4 May 2020, which has allowed the Company's cash runway to be extended into June.