Motif Bio PLC Appointment of Interim Chief Financial Officer (8197D)

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RNS Number : 8197D

Motif Bio PLC

02 February 2018

Motif Bio plc

("Motif Bio" or the "Company")

Appointment of Jonathan E. Gold as Interim Chief Financial Officer

Motif Bio plc (AIM/NASDAQ: MTFB), a clinical-stage biopharmaceutical company specialising in developing novel antibiotics, today announced that Robert Dickey IV has informed the Company of his intention to resign from his role as Chief Financial Officer (CFO). A search process for a new CFO has commenced and Jonathan E. Gold, currently a Non-executive Director of the Company, has agreed to serve as interim CFO. Mr. Dickey IV will continue to serve in an advisory capacity to ensure a smooth transition.

Graham Lumsden, Chief Executive Officer, said: "I would like to thank Rob for his contributions during his tenure at Motif and am grateful that he will remain available to Motif for a period of time to ensure a smooth and effective handover. I am delighted that Jon has agreed to take on the interim CFO position. He has a strong track record in managing financial organisations and successfully financing and growing life sciences companies. As a Motif co-founder and long-time Board member, Jon knows the Company well and will be a strong and reliable asset during this transition period."

Mr. Gold has a background of senior financial positions and is currently Managing Director of JEG Capital Partners LLC, a family office and asset manager. He previously was a portfolio manager for the Federated Kaufmann Funds. Prior to that, Mr. Gold was a partner in Amphion Capital and Wolfensohn Partners, where he was active in financing and building life sciences and technology companies.

For further information please contact:

 
 Motif Bio plc                                           [e-mail] 
 Graham Lumsden (Chief Executive 
  Officer) 
 
 
                                                           + 44 (0)20 7418 
   Peel Hunt LLP (NOMAD & BROKER)                                     8900 
 Dr Christopher Golden 
 Oliver Jackson 
 
 
   Northland Capital Partners                               [phone] 
   Limited (BROKER)                                                   6625 
 David Hignell/John Howes/Rob 
  Rees 
 
 
                                              [phone] / 
   Walbrook PR Ltd. (UK                       [e-mail] 
   FINANCIAL PR & IR) 
 Paul McManus/Helen Cresswell/Lianne 
  Cawthorne 
 
 
                                                             [phone] 
   MC Services AG (EUROPEAN IR)                                       2280 
 Raimund Gabriel                         [e-mail] 
 
 The Trout Group (US IR)                                 [phone] 
 Meggie Purcell                                    [e-mail] 
 
                                                         [phone] 
 Russo Partners (US PR)                                   [phone] 
 David Schull                            [e-mail] 
 Travis Kruse, Ph.D.                     [e-mail] 
 
 

Note to Editors

About Motif Bio

Motif Bio plc (AIM/NASDAQ: MTFB) is a clinical-stage biopharmaceutical company engaged in the research and development of novel antibiotics designed to be effective against serious and life-threatening infections in hospitalised patients caused by multi-drug resistant bacteria, including MRSA. The Company's lead product candidate, iclaprim, is being developed for high-risk MRSA patient populations. The first proposed indication, and near-term commercial opportunity, is for the treatment of ABSSSI, one of the most common bacterial infections, with 3.6 million patients hospitalised annually in the U.S. The Company believes that iclaprim may be suitable for first-line empiric therapy in ABSSSI patients, especially those with renal impairment, with or without diabetes. Unlike current standard of care antibiotics, in clinical trials to date, nephrotoxicity has not been observed with iclaprim and dosage adjustment has not been required in patients with renal impairment.

Iclaprim has an underutilised mechanism of action compared to other antibiotics. Clinical and microbiology data indicate iclaprim has a targeted Gram-positive spectrum of activity, low propensity for resistance development, fixed dose administration and favourable tolerability profile. Additionally, data support that the inactive metabolites of iclaprim clear through the kidneys. The Company also plans to develop iclaprim for hospital acquired bacterial pneumonia (HABP), including ventilator associated bacterial pneumonia (VABP), as there is a high unmet need for new therapies in this indication. A Phase 2 trial was conducted to study iclaprim in patients with HABP. Iclaprim has been studied in an animal model of pulmonary MRSA infection which mimics the pathophysiology observed in patients with cystic fibrosis. Iclaprim has been granted orphan drug designation by the U.S. FDA for the treatment of Staphylococcus aureus lung infections in patients with cystic fibrosis.

Iclaprim has received Qualified Infectious Disease Product (QIDP) designation from the FDA together with Fast Track status. Upon acceptance by the FDA of a New Drug Application (NDA), iclaprim will receive Priority Review status and, if approved as a New Chemical Entity, will be eligible for 10 years of market exclusivity in the U.S. from the date of first approval, under the Generating Antibiotic Incentives Now Act (the GAIN Act). In Europe, 10 years of data exclusivity is anticipated.

Forward-Looking Statements

This press release contains forward-looking statements. Words such as "expect," "believe," "intend," "plan," "continue," "may," "will," "anticipate," and similar expressions are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause Motif Bio's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Motif Bio believes that these factors include, but are not limited to, (i) the timing, progress and the results of clinical trials for Motif Bio's product candidates, (ii) the timing, scope or likelihood of regulatory filings and approvals for Motif Bio's product candidates, (iii) Motif Bio's ability to successfully commercialise its product candidates, (iv) Motif Bio's ability to effectively market any product candidates that receive regulatory approval, (v) Motif Bio's commercialisation, marketing and manufacturing capabilities and strategy, (vi) Motif Bio's expectation regarding the safety and efficacy of its product candidates, (vii) the potential clinical utility and benefits of Motif Bio's product candidates, (viii) Motif Bio's ability to advance its product candidates through various stages of development, especially through pivotal safety and efficacy trials, (ix) Motif Bio's estimates regarding the potential market opportunity for its product candidates, and (x) the factors discussed in the section entitled "Risk Factors" in Motif Bio's Annual Report on Form 20-F filed with the SEC on May 1, 2017, which is available on the SEC's web site, www.sec.gov. Motif Bio undertakes no obligation to update or revise any forward-looking statements.

This information is provided by RNS

The company news service from the London Stock Exchange

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February 02, 2018 10:00 ET (15:00 GMT)