Amphion Innovations PLC First Day of Dealings of Amphion Partner Company (2514J)

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RNS Number : 2514J

Amphion Innovations PLC

02 April 2015

2 April 2015

Amphion Innovations plc

("Amphion", the "Company" or the "Group")

First Day of Dealings on AIM of Motif Bio plc, an Amphion Partner Company

Clinical stage biopharmaceutical company developing new antibiotics

Amphion Innovations (LSE: AMP), a developer of medical, life science, and technology businesses, is pleased to announce the admission of its Partner Company Motif Bio plc's ("Motif") Ordinary Shares to trading on AIM today with the ticker 'MTFB'.

Following admission, Amphion owns 44.09% of Motif's issued equity in addition to a convertible loan in the amount of $3.55 million.

Motif has a lead antibiotic candidate, iclaprim, in clinical development. The company's directors anticipate that iclaprim could be ready for commercialisation within approximately 36 months. Motif is seeking to confirm in meetings with the FDA and EMA in the first half of 2015 that the clinical development plan for iclaprim meets regulatory guidelines and that two Phase III trials can be conducted. A Type C meeting is scheduled with the FDA for 14 April 2015.

Richard Morgan, CEO of Amphion, commented:

"We are pleased to announce the successful flotation of Motif in conjunction with the completion of the merger that grants Motif the exclusive worldwide rights to iclaprim, a clinical stage antibiotic designed to be effective against multi-drug resistant bacteria.

"Resistance to antibiotics is a major global health threat and Motif now owns a novel antibiotic that has already completed extensive trials. In addition, Motif remains committed to developing its current pipeline and adding other novel antibiotics to the portfolio.

"The global antibacterial market is valued at over $40 billion and can be expected to expand further as new therapies are developed. A successful antibiotic can be expected to generate sales of up to $1 billion. We believe iclaprim can be an important weapon in the armory against drug resistant bacteria and we look forward to progressing the development of this important drug."

Enquiries:

 
 Amphion Innovations plc 
  Charlie Morgan 
  www.amphionplc.com                         [phone] 
 Plumtree Capital (FINANCIAL 
  ADVISER) 
  Stephen Austin 
 
  Panmure Gordon Limited (Nomad              [phone] 
  and Broker)                                5860 
  Freddy Crossley/ Duncan Monteith 
  (Corporate Finance) 
  Charlie Leigh-Pemberton (Corporate         [phone] 
  Broking)                                   2500 
 
 Yellow Jersey PR Limited (FINANCIAL 
  PR) 
  Dominic Barretto/Philip Ranger/Fiona     [phone] 
  Walker                                    739 
 
 
 
 
 

About Amphion Innovations plc

Amphion Innovations is a developer of medical, life sciences 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 optimize 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.

This information is provided by RNS

The company news service from the London Stock Exchange

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