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October 10, 2019 at 2:00 AM EDT

Motif Bio confirms receipt of FDA meeting minutes

RNS Number : 3464P
Motif Bio PLC
10 October 2019

Motif Bio plc
("Motif Bio", or "the Company")

Motif Bio confirms receipt of FDA meeting minutes

Motif Bio plc (AIM/NASDAQ: MTFB) today announced that the Company has received the official minutes of the Type B meeting with the U.S. Food & Drug Administration (FDA) which took place on September 19, 2019.

As disclosed in the announcement on September 30, 2019, the minutes confirm that a single well-designed adequate and well-controlled Phase III clinical trial demonstrating safety and efficacy of iclaprim in patients with HABP, including VABP, along with data on potential mechanisms of hepatic injury, would enable submission of a New Drug Application for approval by FDA. It would take several years to enroll and complete a HABP/VABP Phase III trial and the cost is expected to be tens of millions of dollars.

The Company continues to believe that the most efficient way to generate future value from iclaprim is for a partner or other entity with a lower cost of capital to complete the HABP/VABP Phase III trial and commercialise the asset globally.

Dr. Graham Lumsden, Chief Executive Officer, said: "We now have confirmation of what will be required to progress iclaprim towards a potential approval. The Company is working hard to find a partner or other entity to complete the HABP/VABP Phase III trial, commercialise iclaprim and ensure the best outcome for shareholders in Motif Bio."

For further information, please contact:

Motif Bio plc

ir@motifbio.com

Graham Lumsden (Chief Executive Officer)

 

SP Angel Corporate Finance LLP (NOMAD & BROKER)

+44 (0)20 3470 0470

David Hignell/Caroline Rowe (Corporate Finance)

Vadim Alexandre/Abigail Wayne (Sales & Broking)

Walbrook PR Ltd. (UK FINANCIAL PR & IR)

+44 (0)20 7933 8780

Paul McManus/Lianne Cawthorne

motifbio@walbrookpr.com

MC Services AG (EUROPEAN IR)

+49 (0)89 210 2280

Raimund Gabriel

raimund.gabriel@mc-services.eu

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) Motif Bio's ability to obtain shareholder approval in connection with the Proposed Restructuring, (ii) Motif Bio's ability to execute the Proposed Capital Raise and Proposed Restructuring (iii) the timing, progress and the results of clinical trials for Motif Bio's product candidates, (iv) the timing, scope or likelihood of regulatory filings and approvals for Motif Bio's product candidates, (v) Motif Bio's ability to successfully commercialise its product candidates, (vi) Motif Bio's ability to effectively market any product candidates that receive regulatory approval, (vii) Motif Bio's commercialisation, marketing and manufacturing capabilities and strategy, (viii) Motif Bio's expectation regarding the safety and efficacy of its product candidates, (ix) the potential clinical utility and benefits of Motif Bio's product candidates, (x) Motif Bio's ability to advance its product candidates through various stages of development, especially through pivotal safety and efficacy trials, (xi) Motif Bio's estimates regarding the potential market opportunity for its product candidates, (xii) Motif Bio's ability to raise additional capital to sustain its operations and pursue its strategy and (xiii) the factors discussed in the section entitled "Risk Factors" in Motif Bio's Annual Report on Form 20-F filed with the SEC on April 15, 2019, which is available on the SEC's web site, www.sec.gov. Additionally, there can be no assurance that Motif Bio will regain compliance with Nasdaq rules or maintain its ADS listing on Nasdaq. Motif Bio undertakes no obligation to update or revise any forward-looking statements.

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