Motif Bio Plc (AIM:MTFB): Proposed Placing

Motif Bio plc (AIM:MTFB), the clinical stage biopharmaceutical company specialising in developing novel antibiotics, announces its intention to raise approximately £19.4 million (US$25 million), before expenses, by way of a conditional placing with new and existing investors to fund the further development of iclaprim, the Company’s novel antibiotic candidate.

Peel Hunt LLP (“Peel Hunt”) is acting as bookrunner and Northland Capital Partners Limited (“Northland”) is acting as co-lead manager in respect of the fundraising. Peel Hunt is acting as Nominated Adviser to the Company.


· Placing – the Placing is being conducted via an accelerated bookbuild exercise, pursuant to which it is intended to raise approximately £19.4 million (US$25 million). The accelerated bookbuild will be launched immediately following this announcement and will be subject to the terms and conditions set out in the appendix

· Use of proceeds – the net proceeds of the Placing will be used as follows:

o to complete the REVIVE-2 study;

o to file an NDA and a MAA for iclaprim in ABSSSI; and

o for general corporate purposes.

· Notice of General Meeting – due to the size of the Placing, the Placing is conditional, inter alia, on the passing of certain resolutions by shareholders of the Company at a general meeting expected to be convened for 22 June 2017

· Admission – Admission is expected to occur at 8.00 a.m. on 23 June 2017 or such other date as the Company and Peel Hunt may agree (being not later than 8.00 a.m. on 7 July 2017)

Inside Information

This announcement contains inside information. The person responsible for arranging for the release of this announcement on behalf of the Company is Rob Dickey, CFO.

A copy of this announcement has been posted on the Company’s website at


Linking Shareholders and Executives :Share Talk

If anyone reads this article found it useful, helpful? Then please subscribe or follow SHARE TALK on our Twitter page for future updates.

Terms of Website Use

All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned

Malcare WordPress Security