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Amphion Investments

  • BY: Andrew Hore |
  • POSTED: 19/01/2015 |

Amphion Investments is set to spin-off another of its investments on Aim. 

Another of Amphion’s investments, x-ray imaging and radiation detection products developer Kromek, floated in 2013. Motif Biosciences, where Amphion owns 32%, is set to follow Kromek to Aim before the end of March. Motif has raised £470,000 via convertible promissory notes that convert automatically in shares on flotation. If the flotation does not happen then the notes could also be convertible into Amphion shares or redeemed in cash after nine months at the discretion of the note holder.

Motif is a US-based drug developer focused on new antibiotics. As part of the flotation process, Motif intends to acquire a private company that owns intellectual rights to a clinical stage antibiotic designed to be effective against MRSA and multi-drug resistant bacteria. Phase III trials are due to begin later this year and that will require significant investment.

At 3p a share, up 0.38p, Amphion is valued at £4.41m.

AIM Journal January 2015 available.

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