Amphion Innovations PLC Partner Company raises £22 million (9279Q)
June 23 2015 - 3:47AM
UK Regulatory
TIDMAMP TIDMMTFB
RNS Number : 9279Q
Amphion Innovations PLC
23 June 2015
Amphion Innovations plc
("Amphion")
Motif Bio plc announces placing to raise GBP22 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 GBP22 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 +44 (0) 207886
and Joint Corporate Broker) 2500
Freddy Crossley/Fred Walsh (Corporate
Finance)
Charlie Leigh-Pemberton (Corporate
Broking)
Northland Capital Partners Limited +44 (0) 20 7382
(Joint Broker) 1100
Gerry Beaney/David Hignell (Corporate
Finance)
John Howes/Mark Treharne (Corporate
Broking)
Plumtree Capital Limited (Advisor to +44 (0) 207
Amphion) 183 2493
Stephen Austin
Yellow Jersey PR Limited (Financial
PR) +44 (0) 7768
Dominic Barretto/Philip Ranger 537 739
This information is provided by RNS
The company news service from the London Stock Exchange
END
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