Motif Bio plc (“Motif Bio”, “the Company”) is classified as an AIM Rule 15 cash shell as announced in the RNS on January 28, 2020. As announced on January 27, 2021, Motif Bio continues to progress a proposed reverse takeover transaction. Motif Bio will remain suspended from trading while the proposed transaction is advanced. This follows the completion of the restructuring approved by shareholders at the November 14, 2019 General Meeting. The Company’s ordinary shares were suspended from trading on AIM on July 29, 2020 pursuant to AIM Rule 40. If no transaction is completed within six months of that date, the Company’s shares will be cancelled from trading on AIM pursuant to AIM Rule 41.
The Company’s Directors are focused on sourcing an appropriate reverse takeover candidate for Motif Bio. There is no assurance that the effort will be successful to source and/or complete a reverse takeover transaction.
Further, Motif BioSciences Inc., the company’s wholly owned subsidiary, has ceased all operations and has engaged Tamarack Associates to facilitate the sale of iclaprim and its other assets. For inquiries related to Motif BioSciences Inc. and iclaprim, John Palmer of Tamarack Associates can be reached at [email protected].