Exciting biotech company, Motif Bio, plans to raise more new money within three months of listing
Motif Bio plc (AIM: MTFB), a clinical stage biopharmaceutical company, which listed on AIM on 2nd April 2015 has today announced that it intends to raise £22m of new money through the placing of 44,000,000 new ordinary shares at a placing price of 50p.
Motif Bio is involved in the creation of novel antibiotics designed to be effective against antibiotic resistant bacteria. This is a very exciting and relevant area of scientific research as drug resistant bacteria are becoming an increasingly prevalent problem. In recent years antibiotics have become overused, and the more they are used the less effective they become. Common bacteria have evolved to overcome traditional antibiotics meaning many of these previously very effective treatments can no longer be used to fight disease. The need for novel antibiotics to fight these evolved bacteria is extremely important. The World Health Organisation has laid…