StockMarketWire.com - Antibiotics developer Motif Bio said it had raised £2.7m from a share placing to provide additional working capital.

New shares in the company were issued at 6p each.

The company recently announced that it had been granted a meeting with the FDA about a treatment for skin infections.

'The net proceeds from the placing, when taken together with the company's existing cash resources, are expected to be sufficient to fund the business beyond the expected receipt of the FDA meeting minutes in June,' it said.




At 8:34am: [LON:MTFB] Motif Bio Plc Ord 1p share price was -0.36p at 6.68p



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