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Motif Bio PLC

Motif Bio's lender postpone's loan amortisation date by one month

Hercules Capital made this change in support of Motif Bio managing its cash runway as it advances its pipeline expansion strategy.

Antibiotics
With a meeting planned next month with the FDA, this is an important time for Motif

Motif Bio PLC (LON:MTFB, NASDAQ:MTFB), the antibiotics developer, has amended its financing arrangement with Hercules Capital.

Hercules has agreed to amend the company's loan and security agreement by shifting back the next amortisation by one month to the first day of next month.

This change means that the August payment will be interest only.

READ Motif Bio to meet US regulator on September 19 to discuss trial design

"As we continue to evaluate options to build our pipeline, we are fortunate to have the support of our investors, who understand and appreciate the opportunities that may lay ahead,” said Graham Lumsden, the chief executive officer of Motif.

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