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Stockreport

Motif Bio secures up to US$20 million debt financing

MOTIF BIO PLC ADRS (MTFB)  More Company Research Source: GlobeNewswire
US:NASDAQ Investor Relations: ir.motifbio.com
PDF NEW YORK, Nov. 15, 2017 (GLOBE NEWSWIRE) -- Motif Bio plc (AIM:MTFB) (NASDAQ:MTFB), a clinical stage biopharmaceutical company specialising in developing novel antibiotics, announced today that the Company has entered into an agreement for up to US$20 million in debt financing with Hercules Capital, Inc. (NYSE:HTGC), a leader in customised debt financing for companies in life sciences and technology-related markets. The funds will be used to fund pre-commercialisation activities and other corporate activities in preparation for the anticipated US launch of iclaprim in 2019.  The first tranche of US$15 million will be drawn down immediately, with the remaining US$5 million available upon the achievement of certain milestones anticipated in 2018, or at the lender’s discretion.  The terms are typical for facilities of this type and include an initial interest-only period of 15 months, extendable to 21 months on the achievement of certain milestones; a 30-month capital and interest r [Read more]

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