Motif Bio PLC Appointment of Interim Chief Financial Officer (8197D)
February 02 2018 - 9:00AM
UK Regulatory
TIDMMTFB
RNS Number : 8197D
Motif Bio PLC
02 February 2018
Motif Bio plc
("Motif Bio" or the "Company")
Appointment of Jonathan E. Gold as Interim Chief Financial
Officer
Motif Bio plc (AIM/NASDAQ: MTFB), a clinical-stage
biopharmaceutical company specialising in developing novel
antibiotics, today announced that Robert Dickey IV has informed the
Company of his intention to resign from his role as Chief Financial
Officer (CFO). A search process for a new CFO has commenced and
Jonathan E. Gold, currently a Non-executive Director of the
Company, has agreed to serve as interim CFO. Mr. Dickey IV will
continue to serve in an advisory capacity to ensure a smooth
transition.
Graham Lumsden, Chief Executive Officer, said: "I would like to
thank Rob for his contributions during his tenure at Motif and am
grateful that he will remain available to Motif for a period of
time to ensure a smooth and effective handover. I am delighted that
Jon has agreed to take on the interim CFO position. He has a strong
track record in managing financial organisations and successfully
financing and growing life sciences companies. As a Motif
co-founder and long-time Board member, Jon knows the Company well
and will be a strong and reliable asset during this transition
period."
Mr. Gold has a background of senior financial positions and is
currently Managing Director of JEG Capital Partners LLC, a family
office and asset manager. He previously was a portfolio manager for
the Federated Kaufmann Funds. Prior to that, Mr. Gold was a partner
in Amphion Capital and Wolfensohn Partners, where he was active in
financing and building life sciences and technology companies.
For further information please contact:
Motif Bio plc info@motifbio.com
Graham Lumsden (Chief Executive
Officer)
+ 44 (0)20 7418
Peel Hunt LLP (NOMAD & BROKER) 8900
Dr Christopher Golden
Oliver Jackson
Northland Capital Partners +44 (0)203 861
Limited (BROKER) 6625
David Hignell/John Howes/Rob
Rees
+44 (0) 20 7933 8780 /
Walbrook PR Ltd. (UK motifbio@walbrookpr.com
FINANCIAL PR & IR)
Paul McManus/Helen Cresswell/Lianne
Cawthorne
+49 (0)89 210
MC Services AG (EUROPEAN IR) 2280
Raimund Gabriel raimund.gabriel@mc-services.eu
The Trout Group (US IR) +1 (646 )378-2963
Meggie Purcell mpurcell@troutgroup.com
+1 (858) 717-2310
Russo Partners (US PR) +1 (212)845-4272
David Schull david.schull@russopartnersllc.com
Travis Kruse, Ph.D. travis.kruse@russopartnersllc.com
Note to Editors
About Motif Bio
Motif Bio plc (AIM/NASDAQ: MTFB) is a clinical-stage
biopharmaceutical company engaged in the research and development
of novel antibiotics designed to be effective against serious and
life-threatening infections in hospitalised patients caused by
multi-drug resistant bacteria, including MRSA. The Company's lead
product candidate, iclaprim, is being developed for high-risk MRSA
patient populations. The first proposed indication, and near-term
commercial opportunity, is for the treatment of ABSSSI, one of the
most common bacterial infections, with 3.6 million patients
hospitalised annually in the U.S. The Company believes that
iclaprim may be suitable for first-line empiric therapy in ABSSSI
patients, especially those with renal impairment, with or without
diabetes. Unlike current standard of care antibiotics, in clinical
trials to date, nephrotoxicity has not been observed with iclaprim
and dosage adjustment has not been required in patients with renal
impairment.
Iclaprim has an underutilised mechanism of action compared to
other antibiotics. Clinical and microbiology data indicate iclaprim
has a targeted Gram-positive spectrum of activity, low propensity
for resistance development, fixed dose administration and
favourable tolerability profile. Additionally, data support that
the inactive metabolites of iclaprim clear through the kidneys. The
Company also plans to develop iclaprim for hospital acquired
bacterial pneumonia (HABP), including ventilator associated
bacterial pneumonia (VABP), as there is a high unmet need for new
therapies in this indication. A Phase 2 trial was conducted to
study iclaprim in patients with HABP. Iclaprim has been studied in
an animal model of pulmonary MRSA infection which mimics the
pathophysiology observed in patients with cystic fibrosis. Iclaprim
has been granted orphan drug designation by the U.S. FDA for the
treatment of Staphylococcus aureus lung infections in patients with
cystic fibrosis.
Iclaprim has received Qualified Infectious Disease Product
(QIDP) designation from the FDA together with Fast Track status.
Upon acceptance by the FDA of a New Drug Application (NDA),
iclaprim will receive Priority Review status and, if approved as a
New Chemical Entity, will be eligible for 10 years of market
exclusivity in the U.S. from the date of first approval, under the
Generating Antibiotic Incentives Now Act (the GAIN Act). In Europe,
10 years of data exclusivity is anticipated.
Forward-Looking Statements
This press release contains forward-looking statements. Words
such as "expect," "believe," "intend," "plan," "continue," "may,"
"will," "anticipate," and similar expressions are intended to
identify forward-looking statements. Forward-looking statements
involve known and unknown risks, uncertainties and other important
factors that may cause Motif Bio's actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements. Motif Bio believes that these factors
include, but are not limited to, (i) the timing, progress and the
results of clinical trials for Motif Bio's product candidates, (ii)
the timing, scope or likelihood of regulatory filings and approvals
for Motif Bio's product candidates, (iii) Motif Bio's ability to
successfully commercialise its product candidates, (iv) Motif Bio's
ability to effectively market any product candidates that receive
regulatory approval, (v) Motif Bio's commercialisation, marketing
and manufacturing capabilities and strategy, (vi) Motif Bio's
expectation regarding the safety and efficacy of its product
candidates, (vii) the potential clinical utility and benefits of
Motif Bio's product candidates, (viii) Motif Bio's ability to
advance its product candidates through various stages of
development, especially through pivotal safety and efficacy trials,
(ix) Motif Bio's estimates regarding the potential market
opportunity for its product candidates, and (x) the factors
discussed in the section entitled "Risk Factors" in Motif Bio's
Annual Report on Form 20-F filed with the SEC on May 1, 2017, which
is available on the SEC's web site, www.sec.gov. Motif Bio
undertakes no obligation to update or revise any forward-looking
statements.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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