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US companies set the benchmark for Motif Bio

Graham Lumsden, chief executive of Motif Bio Plc (LON:MTFB,NASDAQ:MTFB) caught up with Proactive as the company announced they'd secured US$20mln of non-dilutive financing to provide it with enough cash to see them through to the anticipated launch of its next-generation antibiotic in 2019.

Lumsden says as part of the arrangement they've already drawn down US$15mln of the facility, provided by Hercules Capital Inc. (NYSE:HTGC), a specialist in debt packages for life sciences firms.

Motif's come a long way since listing on AIM back in April 2015 - they've manufactured clinical trial supplies of its lead drug, iclaprim, completed two successful phase III clinical trials on the next-generation antibiotic and, crucially, raised US$110mln.

 

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