7 May 2015 07:00
7 May 2015
Motif Bio Plc
("Motif", the "Company" or the "Group")
Funding Strategy Update
The Board of Motif Bio plc (LSE: MTFB), the clinical stage biopharmaceutical company specialising in developing novel antibiotics, today updated investors with its funding strategy following agreement on 14th April 2015 by the U.S. Food and Drug Administration (FDA) with the proposed Phase 3 clinical development programme for the Company's lead product candidate, iclaprim. The Company anticipates commencing Phase 3 trials in the second half of this year.
To fund these trials Motif is continuing to explore available options, including strategic partnerships with other pharmaceutical companies, non-dilutive government funding from grants, and market funding should the valuation of the Company be supportive.
The Company is therefore pleased to announce that it has been selected to present at BioEquity Europe 2015. BioEquity Europe 2015 is the seminal industry event for financial dealmakers looking for investor-validated life science companies positioning themselves to attract capital and for pharmaceutical licensing professionals to assess top prospects. The conference is to be held at the InterContinental Hotel in Vienna, Austria on May 19-20, 2015.
Graham Lumsden, CEO, commented:
"We are delighted to have been selected to present at the prestigious BioEquity Europe 2015 conference. Motif is determined to maximize shareholder value by seeking funding with the lowest cost of capital."
Enquiries:
Motif Bio plc Graham Lumsden (Chief Executive Officer) Robert Bertoldi (Chief Financial Officer) www.motifbio.com
| info@motifbio.com |
Cairn Financial Advisers (NOMAD) | +44 (0) 20 7148 7900 |
Tony Rawlinson Carolyn Sansom
| |
Northland Capital Partners (BROKER) | +44 (0) 20 7382 1100 |
Patrick Claridge | |
John Howes | |
Plumtree Capital Limited (FINANCIAL ADVISOR) | +44 (0) 207 183 2493 |
Stephen Austin | |
Yellow Jersey PR Dominic Barretto Philip Ranger Fiona Walker
| +44 (0) 7768 537 739 |
Notes to Editors
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).
Iclaprim is being developed for the treatment of the most common and serious bacterial infections such as acute bacterial skin and skin structure infections (ABSSSI) and hospital acquired bacterial pneumonia (HABP), including those caused by resistant strains such as MRSA (methicillin-resistant Staphylococcus aureus) and MDRSP (multi-drug resistant Streptococcus pneumoniae) that have become prevalent in patients in both the community and hospital settings.