23rd Jun 2015 06:58
LONDON (Alliance News) - Biopharmaceutical company Motif Bio PLC on Tuesday said it has raised GBP22 million via a conditional share placing with institutional investors.
The company said it has placed 44 million shares via Zeus Capital and Northland Capital Partners at 50 pence per share. Motif shares closed at 64.25 pence on Monday, making for a 22% discount.
The placing is conditional on securing shareholder approval and on a successful qualified infection disease product designation being given to its iclaprim product in the US.
In addition, it has appointed Zeus Capital as nominated adviser and broker.
By Sam Unsted; [email protected]; @SamUAtAlliance
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