23 Jun 2015 08:47
Amphion Innovations plc
("Amphion")
Motif Bio plc announces placing to raise £22 million
London and New York, 23 June 2015 - Amphion Innovations plc (LSE: AMP), the developer of medical and technology businesses, is pleased to announce that its Partner Company, Motif Bio plc (LSE: MTFB) ("Motif"), has today conditionally placed 44,000,000 new ordinary shares at a placing price of 50p per ordinary share with institutional investors to raise £22 million before expenses (the "Placing"). The Placing is being effected by Zeus Capital Limited and Northland Capital Partners Limited, acting as joint brokers to Motif.
The Placing is conditional upon the grant of the Qualified Infectious Disease Product (QIDP) designation for iclaprim in the US as well as shareholder approval. Shareholders controlling over 51% of voting shares, including Amphion, have already given irrevocable undertakings to vote in favour of the resolutions.
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-resistantStaphylococcus aureus) and MDRSP (multi-drug resistantStreptococcus pneumoniae) that have become prevalent in patients in both the community and hospital settings.
On 15 April 2015, 13 days following Motif's commencement of trading on AIM, the Board of Motif announced that the U.S. Food and Drug Administration (FDA) had agreed to its proposed Phase III clinical development programme for iclaprim.
Following the Placing, Amphion's fully diluted holding of Motif will be 29%.
To view Motif's statement, issued earlier today and including further details, please visit Motif's website at www.motifbio.com
For further information, please contact:
Amphion Innovations plc Charlie Morgan
| +1 212 210 6224 |
Panmure Gordon Limited (Nominated Advisor and Joint Corporate Broker) | +44 (0) 207886 2500 |
Freddy Crossley/Fred Walsh (Corporate Finance) Charlie Leigh-Pemberton (Corporate Broking)
| |
Northland Capital Partners Limited (Joint Broker) | +44 (0) 20 7382 1100 |
Gerry Beaney/David Hignell (Corporate Finance) John Howes/Mark Treharne (Corporate Broking)
| |
Plumtree Capital Limited (Advisor to Amphion) | +44 (0) 207 183 2493 |
Stephen Austin
| |
Yellow Jersey PR Limited (Financial PR) Dominic Barretto/Philip Ranger
| +44 (0) 7768 537 739 |