Amphion Innovations PLC Landmark Acquisition & Update by Partner Company (4362C)
January 19 2015 - 2:00AM
UK Regulatory
TIDMAMP
RNS Number : 4362C
Amphion Innovations PLC
19 January 2015
Amphion Innovations plc
("Amphion" or "the Company")
(LSE: AMP)
Landmark Acquisition & Update by Partner Company
Motif BioSciences Inc. acquires late stage antibiotic and
announces pre-IPO financing
Amphion Innovations, a developer of medical, life science, and
technology businesses, is pleased to announce that Partner Company,
Motif BioSciences Inc. ("Motif"), has entered into an agreement to
merge with a private company that holds the intellectual property
and world-wide rights to a clinical stage antibiotic designed to be
effective against MRSA and multi-drug resistant bacteria (the
"Acquisition"). Motif plans to start Phase III trials this year in
two serious hospital-acquired infections.
Completion of the Acquisition is conditional inter-alia upon
Motif completing an IPO before 31 March 2015.
Motif is a US-based drug discovery and development company
focused on developing solutions for the antibiotic crisis. As of 31
December 2013, Amphion owned 32% of Motif.
Amphion is also pleased to announce that Motif has completed a
pre-IPO AIM financing of GBP470,000 through the issue of
convertible promissory notes ("Notes"). The Notes will
automatically convert into Motif ordinary shares upon an AIM
Admission on or before 31 March 2015. Should Motif not complete its
proposed AIM listing by 31 March 2015, the Notes are convertible
into Motif ordinary shares, Amphion ordinary shares, or repayable
in cash over nine months at the option of each Note holder.
Amphion looks forward to updating the market on Motif's proposed
IPO in due course.
Richard Morgan, CEO of Amphion, said:
"Resistance to antibiotics is a major global public-health
crisis. The most urgent need for novel antibiotics effective
against multi-drug resistant bacteria is in the hospital setting
where patients often succumb to serious, life-threatening
infections that require immediate treatment with the best available
antibiotic.
"The Acquisition of this clinical stage antibiotic is a game
changer for Motif. As a result of change in the regulatory
environment geared to encourage new antibiotics, we believe we have
identified the right course for regulatory approval. Motif's
upcoming IPO will fund this exciting plan and we believe will
generate and return value to both Motif and Amphion shareholders
alike. "
For further information please contact:
Amphion Innovations plc
Charlie Morgan
+1 212 210 6224
Yellow Jersey PR
Dominic Barretto / Fiona Walker
+44 7768 537 739
Plumtree Capital Limited (Financial Advisor)
Stephen Austin
London: +44 207 183 5860
New York: +1 646 652 0799
Panmure Gordon Limited (Nominated Advisor and Broker)
Freddy Crossley / Fred Walsh / Duncan Monteith (Corporate
Finance)
Charlie Leigh-Pemberton (Corporate Broking)
+44 020 7886 2500
About Amphion Innovations plc
Amphion Innovations is a developer of medical, life science 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 optimise 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.
On the web: www.amphionplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
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