Motif Bio Plc (LON:MTFB) has amended the terms of its consultancy agreement with Amphion Innovations Plc (LON:AMP).
Motif, best known for its iclaprim antibiotic candidate, was spun out of Amphion in April 2015, at which time it agreed to pay Amphion’s Robert Bertoldi a consultancy fee of US$5,000 a month.
This was subsequently increased to US$180,000 a year in November 2015 and then cut to US$75,000 in July 2016.
Motif said it has now increased the consideration to US$125,000 a year to better reflect Bertoldi’s time commitment to Motif.