Antibiotics firm Motif Bio to tap UK market for cash

Motif Bio, which is working on a range of antibiotics, is planning to raise at least 4 million pounds ($6 million) – and potentially up to 16 million – through a stock market listing in London. Motif Bio said it was in talks with investors ahead its move to list on the AIM market as it seeks funding to advance its experimental drugs. Motif Bio, which is led by former Merck executive and one-time vet Graham Lumsden, is buying rights to iclaprim through the purchase of U.S. firm Nuprim in a deal that will be completed once the company lists on AIM. Motif Bio believes it can get the drug approved by addressing certain shortfalls in the original development program.
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