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Amphion Innovations surges on Motif float plans

Amphion owns 29.1% of Motif Bio, an AIM-listed group that has a new antibiotic Iclaprim just about to start a phase III trial.

picture of drug research lab
Motif Bio is developing a new antibiotic

Shares in Amphion Innovations Plc (LON:AMP) jumped more than 20% as one of main investments announced a listing on Nasdaq.

Amphion owns 29.1% of Motif Bio (LON:MTFB), an AIM-listed group that has a new antibiotic Iclaprim just about to start a phase III trial.

It noted the plans but gave no indication of how its stake will be affected. Motif Bio is aiming to raise US$60mln, which compares to Amphion’s current market value of £7.2mln (US$9.6mln).

The company announced today it would draw down US$750,000 of a loan facility that can be converted into shares at prices of 6.5p and 8p.

Amphion shares today rose 20% to 3.75p

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