2 Feb 2015 16:18
First published at 8 a.m. on 2 February 2015 under the ref code 7236D to RNS Reach. The issuer advises that this has been reissued to RNS for distribution purposes. The content remains unchanged.
Amphion Innovations plc
("Amphion" or "the Company")
(LSE: AMP)
Reissue: Notice of Intention to Float on AIM by Motif Bio Limited
Amphion Innovations, a developer of medical, life science, and technology businesses, is pleased to announce that Partner Company, Motif Bio Limited ("Motif"), to be renamed Motif Bio plc, has today announced its intention to raise at least £4 million through a placing of new ordinary shares ("Placing") and admission to trading on AIM.
Motif is a clinical stage biopharmaceutical company which specialises in developing novel antibiotics designed to be effective against serious and life-threatening infections caused by multi-drug resistant bacteria. The Company has a lead antibiotic candidate, iclaprim, in clinical development and MTF-001, a preclinical stage programme to design a best-in-class dihydrofolate reductase inhibitor (DHFRi). Discussions and negotiations with academic institutions and pharmaceutical companies are under way to build a portfolio of antibiotic candidates through licensing.
The Directors anticipate that iclaprim could be ready for commercialisation within approximately 36 months.
As of 31 December 2013, Amphion owned 32% of Motif.
Richard Morgan, CEO of Amphion, said:
"Increased drug resistance in bacteria is being recognized as a global health crisis by heads of state as well as distinguished leaders in the fields of medicine and drug development. Our world is in urgent need of novel antibiotics and Motif is poised to help address this problem. We are delighted to announce Motif's intention to float on AIM. Motif has the team in place to execute on its substantial growth opportunities and this placing and flotation on AIM will provide the capital required to progress the multiple drug development projects in Motif's exciting pipeline."
For further information please contact:
Amphion Innovations plcCharlie Morgan+1 212 210 6224
Yellow Jersey PR Dominic Barretto / Fiona Walker+44 7768 537 739
Plumtree Capital Limited (Financial Advisor)
Stephen Austin
London: +44 207 183 5860
New York: +1 646 652 0799
Panmure Gordon Limited (Nominated Advisor and Broker)Freddy Crossley / Fred Walsh / Duncan Monteith (Corporate Finance)Charlie Leigh-Pemberton (Corporate Broking)+44 020 7886 2500
About Amphion Innovations plc
Amphion Innovations is a developer of medical, life science and technology businesses.
We use our extensive experience in company building to invest and build shareholder value in high growth companies in the US and UK. Amphion has significant shareholding in 7 Partner Companies developing proven technologies targeting substantial commercial marketplaces. The Amphion model has been refined to optimise the commercialisation of patents and other intellectual property within the Partner Companies. The Partner Companies collectively own or control over 200 separately identified pieces of intellectual property, a number which grows rapidly each year.
On the web: www.amphionplc.com