Amphion Innovations PLC (LON:AMP) has sold a further batch of shares in partner company Motif Bio PLC (LON:MTFB) (NASDAQ:MFTB), raising proceeds of US$240,656, once more to be used in partial repayment of a loan facility.
The AIM-listed firm said it sold 3,250,000 Motif Bio shares, reducing its holding in the company to 20,179,611 ordinary shares, representing 6.78% of the issued share capital.
READ: Amphion Innovations trims its stake in Motif Bio
On 15 March, the developer of medical, life science, and technology businesses announced that it sold 1.83mln shares in Motif, generating US$144,000 to be used in partial repayment of the loan facility it took out in mid-2014.
At that time, Amphion innovations said two-thirds of the share sale proceeds will be used to reduce the balance under the loan facility and one-third of the remaining proceeds will be returned to the company to be used for working capital.
It said the loan balance plus accrued interest will become due for repayment on 30 September 2019.
Motif Bio is developing iclaprim, a next-generation antibiotic.