logo-loader
viewAmphion Innovations PLC

Amphion partner Motif to raise at least £4mln through AIM float

blood_cells350_54cf5cbc1a44a.jpg

Amphion Innovations’ (LON:AMP) partner company Motif Bio will raise at least £4mln in new money when it lists on AIM. 

Motif specialises in the development of antibiotics to treat the new breed of super resistant bacteria. 

Its lead antibiotic candidate, iclaprim, is in clinical development with another treatment, MTF-001 adihydrofolate reductase inhibitor (DHFRi), at the pre-clinical stage.

Discussions and negotiations with academic institutions and pharmaceutical companies are under way to build a portfolio of antibiotic candidates through licensing, while Motof hopes that iclaprim could be ready for within approximately 36 months.  

Richard Morgan, CEO of Amphion, said: "Increased drug resistance in bacteria is being recognized as a global health crisis by heads of state as well as distinguished leaders in the fields of medicine and drug development. 

“We are delighted to announce Motif's intention to float on AIM.   Motif has the team in place to execute on its substantial growth opportunities and this placing and flotation on AIM will provide the capital required to progress the multiple drug development projects in Motif's exciting pipeline."

Amphion owns 32% of Motif at the end of 2013 and its AIM-listed shares rose by 12% today to 3.5p.


Quick facts: Amphion Innovations PLC

Price: 0.15 GBX

AIM:AMP
Market: AIM
Market Cap: £314.96 k
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Amphion Innovations PLC named herein, including the promotion by the Company of Amphion Innovations PLC in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Amphion Innovations hails favourable court ruling

Richard Morgan, chief executive of Amphion Innovations (LON:AMP), explains the ins and outs of the ruling it has received in a US federal court relating to its patented intellectual property. He tells Proactive Investors that the company has been striving to protect a software patent related...

on 04/14/2014

2 min read