22 Dec 2017 07:01
Motif Bio plc
("Motif Bio" or the "Company")
Motif Bio notes statement from Amphion Innovations
Motif Bio plc (AIM/NASDAQ: MTFB), a clinical stage biopharmaceutical company specialising in developing novel antibiotics, notes the announcement made today via RNS by Amphion Innovations plc ("Amphion"), a substantial shareholder in the Company, relating to the successful restructuring of its loan facility and the extension of the timetable for repayment. Amphion's loan facility is secured by 36,371,625 ordinary shares of Motif Bio beneficially held by Amphion.
For further information, please contact:
Motif Bio plc | info@motifbio.com | |
Graham Lumsden (Chief Executive Officer) | ||
Robert Dickey IV (Chief Financial Officer) | ||
Peel Hunt LLP (NOMAD & BROKER) Dr Christopher Golden Oliver Jackson | + 44 (0)20 7418 8900 | |
Northland Capital Partners Limited (BROKER) Patrick Claridge/ David Hignell John Howes/ Rob Rees (Broking)
|
+44 (0)203 861 6625
| |
Walbrook PR Ltd. (UK FINANCIAL PR & IR) | +44 (0) 20 7933 8780 / motifbio@walbrookpr.com | |
Paul McManus | Mob: +44 (0)7980 541 893 | |
Mike Wort
| Mob: +44 (0)7900 608 002 | |
MC Services AG (EUROPEAN IR) | +49 (0)89 210 2280 | |
Raimund Gabriel | raimund.gabriel@mc-services.eu | |
The Trout Group (US IR) | +1 (646 )378-29363 | |
Meggie Purcell | mpurcell@troutgroup.com | |
About Motif Bio
Motif Bio plc (AIM/NASDAQ: MTFB) is a clinical-stage biopharmaceutical company engaged in the research and development of novel antibiotics designed to be effective against serious and life-threatening infections in hospitalised patients caused by multi-drug resistant bacteria, including MRSA. The Company's lead product candidate, iclaprim, is being developed for high-risk MRSA patient populations. The first proposed indication, and near-term commercial opportunity, is for the treatment of acute bacterial skin and skin structure infections (ABSSSI), one of the most common bacterial infections, with 3.6 million patients hospitalised annually in the US. The Company believes that iclaprim may be suitable for first-line empiric therapy in ABSSSI patients, especially those with renal impairment, with or without diabetes. Unlike current standard of care antibiotics, in clinical trials to date, nephrotoxicity has not been observed with iclaprim and dosage adjustment has not been required in patients with renal impairment.
Iclaprim has an underutilised mechanism of action compared to other antibiotics. Clinical and microbiology data indicate iclaprim has a targeted gram-positive spectrum of activity, low propensity for resistance development, fixed dose administration and favourable tolerability profile. Additionally, data support that the inactive metabolites of iclaprim clear through the kidneys. The Company also plans to develop iclaprim for hospital acquired bacterial pneumonia (HABP), including ventilator associated bacterial pneumonia (VABP), as there is a high unmet need for new therapies in this indication. A Phase 2 trial was conducted to study iclaprim in patients with HABP. Iclaprim has been studied in an animal model of chronic pulmonary MRSA infection which mimics the pathophysiology observed in patients with cystic fibrosis. Results from this study were presented at IDWeek 2017™ on 6 October 2017 in San Diego, CA. Iclaprim has received Qualified Infectious Disease Product (QIDP) designation from the FDA together with Fast Track status. Upon acceptance by the FDA of a New Drug Application (NDA), iclaprim will receive Priority Review status and, if approved as a New Chemical Entity, will be eligible for 10 years of market exclusivity in the U.S. from the date of first approval, under the Generating Antibiotic Incentives Now Act (the GAIN Act). In Europe, 10 years of data exclusivity is anticipated.