Motif Bio raises £22m via share placing

23rd Jun 2015 11:20

Biopharmaceutical company Motif Bio has raised £22m via a conditional share placing with institutional investors.The London-listed group said "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." The company said it has placed 44m shares via Zeus Capital and Northland Capital Partners at 50 pence per share, representing a 22% discount on Monday's closing price.Motif Bio shares were up 1.36% to 65.12p at 11:30 on Tuesday.