Amphion Innovations PLC Reissue: Partner Company's Intention to Float (8223D)
03 February 2015 - 3:18AM
UK Regulatory
TIDMAMP TIDMTTM
RNS Number : 8223D
Amphion Innovations PLC
02 February 2015
First published at 8 a.m. on 2 February 2015 under the ref code
7236D to RNS Reach. The issuer advises that this has been reissued
to RNS for distribution purposes. The content remains
unchanged.
Amphion Innovations plc
("Amphion" or "the Company")
(LSE: AMP)
Reissue: Notice of Intention to Float on AIM by Motif Bio
Limited
Amphion Innovations, a developer of medical, life science, and
technology businesses, is pleased to announce that Partner Company,
Motif Bio Limited ("Motif"), to be renamed Motif Bio plc, has today
announced its intention to raise at least GBP4 million through a
placing of new ordinary shares ("Placing") and admission to trading
on AIM.
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). Discussions and negotiations with
academic institutions and pharmaceutical companies are under way to
build a portfolio of antibiotic candidates through licensing.
The Directors anticipate that iclaprim could be ready for
commercialisation within approximately 36 months.
As of 31 December 2013, Amphion owned 32% of Motif.
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. Our world
is in urgent need of novel antibiotics and Motif is poised to help
address this problem. 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."
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
END
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