Amphion Innovations PLC (LON:AMP) has reduced its stake in partner company Motif Bio PLC (LON:MTFB, NASDAQ:MTFB) to 7.88%.
It sold 1.83mln shares in Motif, generating US$144,000, two-thirds of which will go to effect partial repayment of the loan facility it took out in mid-2014.
READ: Motif Bio to manage cash aggressively after making loan repayment
Prior to the sale, Amphion’s stake in Motif Bio, which is developing iclaprim, a next-generation antibiotic, was 8.51%.