- Motif Bio has today conditionally placed 44m new shares at 50p each to raise £22m.

CEO Graham Lumsden commented:

"Following so quickly on from our AIM-listing in early April 2015, and the FDA's approval of our proposed Phase III clinical development programme for iclaprim on April 15, I am very pleased to see this level of support and confidence from institutions.

"At our IPO, we indicated that we would, with sufficient funding, be in a position to commercialise iclaprim within 36 months of our listing, and this fund-raising is key to realising this exciting goal. We are confident that we remain on target."

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