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Notes statement from Amphion Innovations

22 Dec 2017 07:01

RNS Number : 1521A
Motif Bio PLC
22 December 2017
 

 

 

 

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.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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