- Amphion Innovations partner company Motif Bio has raised £22m, gross, through a conditional placing of 44,000,000 new ordinary shares at 50p apiece with institutional investors.

The placing is conditional upon the grant of the Qualified Infectious Disease Product (QIDP) designation for iclaprim in the US as well as shareholder approval. Shareholders controlling over 51% of voting shares, including Amphion, have already given irrevocable undertakings to vote in favour of the resolutions.

Following the placing, Amphion's fully diluted holding of Motif will be 29%.

At 8:53am:

[LON:AMP] Amphion Innovations PLC share price was -0.13p at 6.75p

[LON:MTFB] Motif Bio Plc Ord 1p share price was -0.75p at 63.5p

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