20th Mar 2015 08:34
LONDON (Alliance News) - Shares in Amphion Innovations PLC gained ground on Friday morning after the company said its partner company Motif BioSciences Ltd has announced its intention to list on London's AIM market.
Motif, a clinical stage biopharmaceutical company focusing on developing antibiotics to treat infections caused by multi-drug resistant bacteria, said its shares are set to be admitted to AIM on March 31.
Motif, which will be renamed Motif Bio PLC on admission, is looking to raise at least GBP4 million through its IPO.
At the end of 2014, Amphion held a 38% stake in the company.
Shares in Amphion were up 12% to 3.35 pence in early trade, one of the best performers in the AIM All-Share. The stock touched 3.88p at the open.
By Sam Unsted; [email protected]; @SamUAtAlliance
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