Amphion Innovations PLC First Day of Dealings of Amphion Partner Company (2514J)
April 02 2015 - 2:01AM
UK Regulatory
TIDMAMP TIDMTTM
RNS Number : 2514J
Amphion Innovations PLC
02 April 2015
2 April 2015
Amphion Innovations plc
("Amphion", the "Company" or the "Group")
First Day of Dealings on AIM of Motif Bio plc, an Amphion
Partner Company
Clinical stage biopharmaceutical company developing new
antibiotics
Amphion Innovations (LSE: AMP), a developer of medical, life
science, and technology businesses, is pleased to announce the
admission of its Partner Company Motif Bio plc's ("Motif") Ordinary
Shares to trading on AIM today with the ticker 'MTFB'.
Following admission, Amphion owns 44.09% of Motif's issued
equity in addition to a convertible loan in the amount of $3.55
million.
Motif has a lead antibiotic candidate, iclaprim, in clinical
development. The company's directors anticipate that iclaprim could
be ready for commercialisation within approximately 36 months.
Motif is seeking to confirm in meetings with the FDA and EMA in the
first half of 2015 that the clinical development plan for iclaprim
meets regulatory guidelines and that two Phase III trials can be
conducted. A Type C meeting is scheduled with the FDA for 14 April
2015.
Richard Morgan, CEO of Amphion, commented:
"We are pleased to announce the successful flotation of Motif in
conjunction with the completion of the merger that grants Motif the
exclusive worldwide rights to iclaprim, a clinical stage antibiotic
designed to be effective against multi-drug resistant bacteria.
"Resistance to antibiotics is a major global health threat and
Motif now owns a novel antibiotic that has already completed
extensive trials. In addition, Motif remains committed to
developing its current pipeline and adding other novel antibiotics
to the portfolio.
"The global antibacterial market is valued at over $40 billion
and can be expected to expand further as new therapies are
developed. A successful antibiotic can be expected to generate
sales of up to $1 billion. We believe iclaprim can be an important
weapon in the armory against drug resistant bacteria and we look
forward to progressing the development of this important drug."
Enquiries:
Amphion Innovations plc
Charlie Morgan
www.amphionplc.com +1 212 210 6224
Plumtree Capital (FINANCIAL
ADVISER)
Stephen Austin
Panmure Gordon Limited (Nomad +44 (0)207 183
and Broker) 5860
Freddy Crossley/ Duncan Monteith
(Corporate Finance)
Charlie Leigh-Pemberton (Corporate +44 (0)207 886
Broking) 2500
Yellow Jersey PR Limited (FINANCIAL
PR)
Dominic Barretto/Philip Ranger/Fiona +44 (0)7768 537
Walker 739
About Amphion Innovations plc
Amphion Innovations is a developer of medical, life sciences 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 optimize 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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