Motif Bio Share Discussion Threads

[scottdavid70] 26/2/2021 12:03

Good news for John Palmer - cat go the cream and they have kept it in house so the skeletons don’t develop an ability to move in to the public area.

Seen this playbook a million times. Keep it in house so you don’t have to explain the irregularities of the past.

Disgusting as ever

[lithological heterogeneities] 26/2/2021 11:32

Excellent and unexpected news today.

Looking forward to the RTO.

[pawsche] 26/2/2021 11:15

Am I just being cynical, or am I right to be a bit concerned that "Motif Inc", the company that owns Iclaprim, has been sold to a company wholly-owned by the gaffer of the company tasked with the job of selling it?

OK, should Iclaprim ever find a serious outlet there will be revenue stream to Motif Bio PLC, but the lucky purchaser will take a nice slice, ... So, has Tamarak found somewhere to place Iclaprim? We'll just have to wait and see...

[perfectstorm] 26/2/2021 07:36

Cant find any information about Orange

[moneymunch] 26/2/2021 07:06

RNS Number : 4269Q
Motif Bio PLC
26 February 2021






Motif Bio plc

("Motif" or the "Company")



Update re Motif BioSciences Inc



Motif Bio plc (AIM: MTFB), which has been reclassified as an AIM Rule 15 cash shell, provides an update regarding its wholly owned subsidiary, Motif BioSciences Inc. ("Motif Inc"), following the announcements of 28 January and 18 March 2020.



Motif announces that it has entered into a Stock Purchase Agreement (the "SPA") with Orange Avenue Technologies, LLC ("Orange") pursuant to which Orange has acquired 100 per cent. of the outstanding shares of Motif Inc from Motif with immediate effect (the "Transaction"). Orange is wholly owned by John Palmer, the President of Tamarack Associates Inc. ("Tamarack"), the company which was engaged by Motif to facilitate the sale of iclaprim and other assets of Motif Inc in January 2020.



Key Terms of the Transaction

As consideration for the Transaction, Motif will receive the nominal amount of US$1 in addition to an interest in revenue that is derived from Motif Inc's iclaprim asset. Pursuant to the terms of the SPA, if Motif Inc generates revenue from the iclaprim asset above its outstanding liabilities, Motif Inc shall retain the first US$250,000 in revenue and thereafter, 90 per cent of any additional revenue will be paid to the Company, and the remaining 10 per cent of any additional revenue will be retained by Motif Inc.



The Transaction completes the orderly sale of Motif Inc's operations, which was first announced on 25 October 2019.



Update re Proposed Reverse Takeover

Motif remains suspended from trading while the proposed reverse takeover pursuant to AIM Rule 14 (the "Reverse Takeover"), which was referred to in the Company's announcements dated 5 January and 27 January 2021, is negotiated and advanced. The Company's Directors look forward to providing shareholders with further updates regarding the Reverse Takeover as appropriate.



Jonathan Gold, Motif's President and Chief Business Officer, commented: "The Transaction is an important step to prepare Motif to complete the Reverse Takeover. The Transaction also creates incentives for Orange to focus on the potential generation of value from iclaprim for Motif's shareholders, while allowing Motif to focus on completing the Reverse Takeover with a UK-based ADC (Antibody-Drug Conjugate) discovery and development company."



Related Party Transaction

John Palmer, as President of Tamarack, was appointed as the sole Executive Officer of Motif Inc on 28 January 2020. As Motif Inc was a wholly owned subsidiary of Motif prior to the Transaction and Orange and Tamarack are both majority owned by John Palmer, John Palmer and Orange are deemed to be related parties of Motif.



As such, the Transaction constitutes a related party transaction in accordance with Rule 13 of the AIM Rules for Companies. Motif's Directors consider, after consultation with the Company's Nominated Adviser, that the terms of the Transaction are fair and reasonable, in so far as the Company's shareholders are concerned.



The person responsible for the release of this announcement on behalf of Motif is Jonathan Gold, President and Chief Business Officer.

[moneymunch] 26/2/2021 07:05

RNS Number : 4269Q
Motif Bio PLC
26 February 2021






Motif Bio plc

("Motif" or the "Company")



Update re Motif BioSciences Inc



Motif Bio plc (AIM: MTFB), which has been reclassified as an AIM Rule 15 cash shell, provides an update regarding its wholly owned subsidiary, Motif BioSciences Inc. ("Motif Inc"), following the announcements of 28 January and 18 March 2020.



Motif announces that it has entered into a Stock Purchase Agreement (the "SPA") with Orange Avenue Technologies, LLC ("Orange") pursuant to which Orange has acquired 100 per cent. of the outstanding shares of Motif Inc from Motif with immediate effect (the "Transaction"). Orange is wholly owned by John Palmer, the President of Tamarack Associates Inc. ("Tamarack"), the company which was engaged by Motif to facilitate the sale of iclaprim and other assets of Motif Inc in January 2020.



Key Terms of the Transaction

As consideration for the Transaction, Motif will receive the nominal amount of US$1 in addition to an interest in revenue that is derived from Motif Inc's iclaprim asset. Pursuant to the terms of the SPA, if Motif Inc generates revenue from the iclaprim asset above its outstanding liabilities, Motif Inc shall retain the first US$250,000 in revenue and thereafter, 90 per cent of any additional revenue will be paid to the Company, and the remaining 10 per cent of any additional revenue will be retained by Motif Inc.



The Transaction completes the orderly sale of Motif Inc's operations, which was first announced on 25 October 2019.



Update re Proposed Reverse Takeover

Motif remains suspended from trading while the proposed reverse takeover pursuant to AIM Rule 14 (the "Reverse Takeover"), which was referred to in the Company's announcements dated 5 January and 27 January 2021, is negotiated and advanced. The Company's Directors look forward to providing shareholders with further updates regarding the Reverse Takeover as appropriate.



Jonathan Gold, Motif's President and Chief Business Officer, commented: "The Transaction is an important step to prepare Motif to complete the Reverse Takeover. The Transaction also creates incentives for Orange to focus on the potential generation of value from iclaprim for Motif's shareholders, while allowing Motif to focus on completing the Reverse Takeover with a UK-based ADC (Antibody-Drug Conjugate) discovery and development company."



Related Party Transaction

John Palmer, as President of Tamarack, was appointed as the sole Executive Officer of Motif Inc on 28 January 2020. As Motif Inc was a wholly owned subsidiary of Motif prior to the Transaction and Orange and Tamarack are both majority owned by John Palmer, John Palmer and Orange are deemed to be related parties of Motif.



As such, the Transaction constitutes a related party transaction in accordance with Rule 13 of the AIM Rules for Companies. Motif's Directors consider, after consultation with the Company's Nominated Adviser, that the terms of the Transaction are fair and reasonable, in so far as the Company's shareholders are concerned.



The person responsible for the release of this announcement on behalf of Motif is Jonathan Gold, President and Chief Business Officer.

[chuffer2] 25/2/2021 18:48

Are you talking to me?

[rfcmoore66] 25/2/2021 18:20

Will you shut it and give others the chance to have an opinion?!! Who are you anyway? Take a break, we get it!!!

[scottdavid70] 25/2/2021 04:25

What happened then?

He still wants a BONUS even after all this never materialised?

[scottdavid70] 25/2/2021 04:24

Remember those partners Lumsden was so confident about after the FDA meeting?

“ Graham Lumsden, chief executive of Motif Bio (LON:MTFB), tells Proactive Investors he is confident about the path forward for Iclaprim. After a 'collaborative meeting' with the FDA, the American regulator gave the biopharmaceutical company the green light to begin phase 111 clinical trials on its next-generation antibiotic. Lumsden is now putting together a strategic business development plan looking at appropriate partners for one or both of the clinical trials to bring in upfront payments and satisfy funding requirements for the trials.”

[scottdavid70] 25/2/2021 00:39

£100,000 is huge for a cash shell and he shouldn’t be paid it unless there is SIGNIFICANT upside in a sale of Iclaprim before the RTO

We need to stop the greed

[scottdavid70] 25/2/2021 00:37

Remember this man is going to take over £100,000 BONUS for failing to achieve that goal and many others but getting the BONUS for something he created by not selling or getting any value for investors with Iclaprim- his only job.

Are you happy to see him trouser another six figure amount for failing?

[scottdavid70] 25/2/2021 00:35

Remember when the company said the USA was ALWAYS the focus for approval for Iclaprim?

Well in 2015 and even up to 2018 that wasn’t the case but strangely the EMA got pulled silently. This is from 2015 where they were very much heralding the importance of European approval of the REVIVE trials

“ Graham Lumsden, chief executive of Motif Bio (LON:MTFB), says the company’s latest agreement with EU regulators paves the way for its antibiotic, Iclaprim, to be licenced in Europe.

This week the firm received written scientific advice from the Medicines Evaluation Board (MEB) in the Netherlands stating its phase-III studies on the treatment, plus microbiological data, should be filed for scrutiny.

The advice confirms that Motif’s two upcoming Phase III clinical trials on iclaprim—for the treatment of skin infections—are acceptable as pivotal registration studies for approval in the European Union.”

[scottdavid70] 21/2/2021 13:27

Strange it was delayed and then not approved yet we as shareholders weren’t aware of any liver issues but there were 2 experts on standby for the AdComm and then not a small trial or labelling after FDA meeting Type A but full blown phase iii trials....

Oh and then after the Type B meeting they announced before the FDA decision what it was but funnily enough before the announcement of the Type A meeting Lumsden was on ProActive saying he couldn’t weight a horse as to which of the 3 potential outcomes it could possibly be.

That’s when the AGM was shoved before the official decision so he didn’t have to sit in the room with the investors he was supposed to be acting in the best interests of. Zero reason not to have held the AGM so investors could get answers but he choose not too.

So yes I would have definitely done it differently and especially not take full pay for failing for the next 12 months

[bi11y ray va1entine] 20/2/2021 21:02

So what you're saying is Scott, if you had been in charge you would have explained why the NDA submission was delayed just like Lumsden did. And that would've been totally unacceptable.

[scottdavid70] 20/2/2021 21:01

I see Glaxo (GSX) have put 140 million into the AMR Fund. If Iclaprim has a chance of being sold that is the route that is it’s best bet. If it doesn’t get sold the whole thing was a hoax.

The cost of buying it vs the research done is a no brainier in terms of what the AMR Fund want to achieve- the outcome will say a lot about what we were actually invested in...

[scottdavid70] 20/2/2021 20:59

First time project vs something that’s been done thousands of times - there was no reason for a delay unless the liver issue was suddenly realised then.

Many of us invested here feel that’s when the issue first surfaced- the following actions - cancelled HABP and European submission stopped suggest this.

Plus they did countless conferences and not once did the data presented move the share price. If the data was so compelling why didn’t anyone buy in?

Something strange in the neighbourhood!!!

[small crow] 20/2/2021 20:07

Scott, I have one 'word' for you - HS2.

[scottdavid70] 20/2/2021 10:49

When you are getting paid $500,000 a year to get it right. Totally unacceptable

[bi11y ray va1entine] 20/2/2021 10:37

He explained in several interviews that the submission process just took longer than expected. When has a big project ever come in on time and on budget?

[bi11y ray va1entine] 20/2/2021 10:35

In the August 15th 2018 Proactive interview he says the NDA submission is hundreds of thousands of pages in length. It's at 1 minute 40 seconds if you want to see for yourself. That's probably an exaggeration though, because the NIH website says they actually run up to 100,000 pages.

[scottdavid70] 19/2/2021 20:40

Because he never fully explained himself - typical of what we have had to deal with

He said the NDA was late because it was a 2,000 page submission. Assume he knew that when starting Motif to get Iclaprim approved. This couldn’t have come as a shock. Lame excuse

European submission was batted away with “the focus has always been on getting Iclaprim approved in America” . Begs the question why start and waste the money to try to get European approval if that was never the priority. As it came with cancelling the HABP trials. I think 2+2=4 in this case clearly

HABP cancellation was never explained fully. Was left in the hazy not worth the money but just another excuse blatantly now.

Quality company and superbly run as you can see pre and post FDA decision but we can only see that now with the benefit of hindsight. Lunsden however, despite this, picks up a nice new job and fat salary.

8th wonder of the world

[small crow] 19/2/2021 13:45

What would happen if an RTO was to take place to those with shares?" You might make a great deal of money. Then again, you might not. It all depends on the details, not surprisingly.