Zeus Capital acted as Nominated Adviser and Joint Broker to Motif Bio plc (Ticker: MTFB) on its US NASDAQ IPO and European Placing raising $25m
7th December 2016
Zeus Capital is pleased to announce that it acted as nominated adviser and broker to Motif Bio on its European Placing in conjunction with its IPO on NASDAQ Capital Market. The US IPO included an offering by way of American Depositary Shares (“ADSs”) and warrants over ADSs, with the European Placing of ordinary shares and warrants over ordinary shares.
Motif Bio is a clinical stage biopharmaceutical company with a novel antibiotic designed to be effective against serious and life-threatening infections in hospitalized patients caused by multi-drug resistant bacteria. Its lead product candidate, iclaprim, is being developed for the treatment of infections caused by MRSA and other Gram-positive bacteria. The first two indications will be acute bacterial skin and skin structure infections (“ABSSSI”) and hospital acquired bacterial pneumonia.
The $25m raised in the US Offering and the European Placing will provide the Company with the capital to enable it to complete its REVIVE I Phase III clinical trial and progress its REVIVE II clinical trial currently underway with iclaprim in patients with ABSSSI.
Enrolment and dosing of patients with an I.V. formulation of iclaprim for the treatment of ABSSSI are progressing well and the Company expects its REVIVE I Phase III trial to read out in Q2 2017 and REVIVE II to read out in H2 2017.
Phil Walker, Head of Healthcare, Corporate Finance, Zeus Capital commented: “We were delighted to help secure £20m of new capital for Motif Bio in conjunction with its NASDAQ IPO. This successful funding ensures that Motif Bio is funded through data read-out for REVIVE-1 in Q2 2017”