Motif Bio says looking at Nasdaq listing

Motif Biosciences (LSE: MTFB) on Monday said it is looking to list on the Nasdaq and has appointed the US healthcare investment bank MTS Health Partners (MTS) to advise on its future financing options within the US market.

Graham Lumsden, chief executive of Motif, said: “For Motif to continue to grow and become a leading antibiotic company, and in order to continue to build value for our existing shareholders, it is important that we explore the capital markets in the US, including the potential for a Nasdaq listing. With the appointment of MTS, we can make the right decisions on how to proceed during 2016. The accomplishments in 2015 – listing on AIM in April, raising £25 million including the follow-on in July, being granted QIDP designation for iclaprim by the FDA, and completing the manufacture of clinical trial supplies, have strengthened the Company and positioned us for continued success in 2016.”

The clinical stage biopharmaceutical company said it has made considerable progress with plans to identify strategic partners who are interested in licensing its Phase III asset, iclaprim, outside the USA.