Amphion Innovations said it had sold shares in partner company Motif Bio to a US institutional investor for $3.7m and would use the proceeds to pay down debt.

The shares were sold at 31p, leaving Amphibion with a 9.53% interest in Motif Bio.

At 2:23pm: (LON:AMP) Amphion Innovations PLC share price was 0p at 1.23p