Mo­tif strikes a deal need­ed to trig­ger Nas­daq IPO; Onco­Genex cuts more staffers to con­serve cash

UK an­tibi­ot­ic de­vel­op­er Mo­tif Bio (AIM: MTFB) may have sort­ed out its fi­nan­cial woes, for now. The biotech made a deal to float its US IPO, con­di­tion­al on a Eu­ro­pean place­ment to raise $25 mil­lion. And the com­pa­ny says it has the sup­port need­ed to get that done.

Onco­Genex Phar­ma­ceu­ti­cals is lay­ing off an­oth­er 5 staffers, ac­cord­ing to an SEC fil­ing. The Both­ell, WA-based com­pa­ny cut 27% of its staff back in Feb­ru­ary as it looked to con­serve enough cash to see through a Phase III pro­gram.

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