Appointment of Jonathan E. Gold as Interim Chief Financial Officer
February 02 2018 - 9:00AM
Motif Bio plc (AIM:MTFB) (NASDAQ:MTFB) ("Motif Bio" or the
"Company"), 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.
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For further information please contact: |
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Motif Bio plc |
info@motifbio.com |
Graham
Lumsden (Chief Executive Officer) |
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Peel Hunt LLP (NOMAD & BROKER) |
+ 44 (0)20 7418 8900 |
Dr
Christopher Golden |
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Oliver
Jackson |
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Northland Capital Partners Limited (BROKER) |
+44
(0)203 861 6625 |
David
Hignell/John Howes/Rob Rees |
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Walbrook PR
Ltd. (UK FINANCIAL PR & IR) |
+44 (0) 20 7933 8780 / motifbio@walbrookpr.com |
Paul
McManus/Helen Cresswell/Lianne Cawthorne |
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MC
Services AG (EUROPEAN IR) |
+49 (0)89 210 2280 |
Raimund
Gabriel |
raimund.gabriel@mc-services.eu |
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The
Trout Group (US IR) |
+1
(646) 378-2963 |
Meggie
Purcell |
mpurcell@troutgroup.com |
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Russo Partners (US PR) |
+1
(858) 717-2310 |
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+1
(212) 845-4272 |
David
Schull |
david.schull@russopartnersllc.com |
Travis
Kruse, Ph.D. |
travis.kruse@russopartnersllc.com |
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Note to Editors
About Motif Bio
Motif Bio plc (AIM:MTFB) (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.
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