Press Releases

Final Results for the year ended 31 December 2015

By April 20, 2016No Comments

Motif Bio plc (AIM: MTFB), the clinical stage biopharmaceutical company specialising in developing novel antibiotics, announces its maiden full year audited financial results as an AIM-listed company.

Corporate/operational highlights:

  • AIM listing raising £2.8 million (before expenses) at 20 pence per share on 2 April 2015;
  • The U.S. Food and Drug Administration (FDA) agreed to Phase III trials of iclaprim;
  • QIDP designation granted by the FDA for iclaprim in ABSSSI and HABP in July 2015;
  • Independent tests by JMI Laboratories showed iclaprim to be effective in vitro against a range of Gram-positive bacteria and 16 times more potent than trimethoprim; and
  • Motif contracted with Covance, a global leading CRO for Phase III clinical trials of iclaprim

Financial Highlights:

  • Successful placing on 22 July 2015 raising £22 million (before expenses) at 50 pence per share;
  • Cash and cash equivalents as at 31 December 2015 of US $28.6 million (31 December 2014: nil)

Since Period End:

  • Began dosing the first patient in the Phase III iclaprim trials in March 2016;
  • Named MTS Health Partners as U.S. Corporate Financial Advisor;
  • Appointed The Fulford Group Ltd. as specialist advisor; and
  • Appointed Pete A. Meyers as CFO, Rajesh B. Shukla as Vice President Clinical Operations, and named Jon Gold as strategic financial consultant

The Annual Report will be posted to shareholders and made available on the Company’s website www.motifbio.com by 30 April 2016 and will contain a notice of the Company’s forthcoming Annual General Meeting which will be held in London on 2 June 2016.

Graham Lumsden, CEO of Motif Bio plc said: “2015 was a transformational year for Motif Bio, with admission to AIM in April, securing capital of £23 million (net of expenses) through two equity fundraisings, and achieving a number of key milestones that provides the Company with a platform for further progress in 2016.

Motif Bio is now well-positioned as an antibiotic development company with a lead compound, iclaprim, in Phase III clinical trials targeting serious and life threatening infections and with commercialisation anticipated for 2018. We are in the rare position of already having data from more than 500 patients establishing safety and efficacy of iclaprim, including activity against multi-drug resistant bacteria such as MRSA.”

ENQUIRIES

Motif Bio plc

Graham Lumsden, Chief Executive Officer
David Huang, Chief Medical Officer
info@motifbio.com

Zeus Capital Limited (Nominated Advisor and Broker)

Phil Walker / Dan Bate
Dominic Wilson
+44 (0) 20 3829 5000

Northland Capital Partners Limited (Broker)

Patrick Claridge / David Hignell
John Howes / Rob Rees (Broking)
+44 (0) 207 382 1100

Walbrook PR Ltd. (Public and Investor Relations)

Paul McManus / Mike Wort
Main: +44 (0)20 7933 8780
Paul: +44 (0)7980 541 893
Mike: +44 (0)7900 608 002
motifbio@walbrookpr.com

MC Services AG (European IR)

Raimund Gabriel
+49 (0) 89 210 2280

Notes to Editors

Motif is a clinical-stage biopharmaceutical company, specialising in the development of novel antibiotics that are designed to be effective against serious and life-threatening infections caused by multi-drug resistant bacteria. Our lead product candidate, iclaprim, is being developed for the treatment of the most common and serious bacterial infections such as acute bacterial skin and skin structure infections (ABSSSI) and hospital acquired bacterial pneumonia (HABP), including those caused by resistant strains such as MRSA (methicillin-resistant Staphylococcus aureus).  Two Phase III ABSSSI clinical trials are on track to be completed in 2017 and if approved, iclaprim could be ready for commercialization in 2018. The Company is in discussions with pharmaceutical companies and universities to build a pipeline of innovative antibiotics targeting Gram-positive and Gram-negative bacteria.