LONDON TRADING UPDATES: Motif Bio Says Orange Avenue Buys Subsidiary Fri, 26th Feb 2021 20:20 (Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News: Motif Bio PLC - AIM-listed cash shell - Enters into a stock purchase agreement with Orange Avenue Technologies LLC, to which Orange has acquired 100% of the outstanding shares of Motif Inc from Motif with immediate effect. Orange is wholly owned by John Palmer, president of Tamarack Associates Inc - the company which was engaged by Motif to facilitate the sale of iclaprim and other assets of Motif Inc in January 2020. Motif remains suspended from trading while the proposed transaction is being negotiated and advanced. "The transaction is an important step to prepare Motif to complete the reverse takeover. It also creates incentives for Orange to focus on the potential generation of value from iclaprim for Motif's shareholders, while allowing Motif to focus on completing the reverse takeover with a UK-based ADC discovery and development company," says President Jonathan Gold.