Motif Bio and Hercules Capital Amend Loan and Security Agreement
MOTIF BIO PLC ADRS (MTFB)
US:NASDAQ Investor Relations:
ir.motifbio.com
Company Research
Source: GlobeNewswire
NEW YORK, Aug. 01, 2019 (GLOBE NEWSWIRE) -- Motif Bio plc (AIM/NASDAQ: MTFB), a clinical-stage biopharmaceutical company specialising in developing novel antibiotics, announced today that its Lender, Hercules Capital, Inc., has agreed to amend the Company’s loan and security agreement such that the next amortization date is postponed from August 1 to September 1, 2019. This change means that the August payment will be interest only. Hercules Capital made this change in support of Motif Bio managing its cash runway as it advances its pipeline expansion strategy. Dr. Graham Lumsden, Chief Executive Officer, said: “As we continue to evaluate options to build our pipeline, we are fortunate to have the support of our investors, who understand and appreciate the opportunities that may lay ahead. We appreciate the flexibility of Hercules Capital and the confidence they have in our management team to accomplish our strategic goals.” For further information please contact: Motif Bio plcir
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