Technology and life sciences incubator Amphion Innovations Plc (AIM: AMP) has sold shares in an investee company to repay a tranche of a long-standing loan.
It will receive around £1mln for stock in Motif Bio Plc (LON:MTFB), bringing its holding in the developer of a next-generation antibiotic down to 8.5%. The line of stock, which had a book value of £1.04mln, was sold at 33.5p a share.
Following the latest instalment, the balance of the loan stands at £2.2mln, which will be settled via two payments – in October and December.