Another of Amphion Innovations' (LON:AMP) portfolio of start-up tech companies is mulling an IPO, it said.
Motif Biosciences, a New York-based drug company working on a new types antibiotics that can overcome the growth of superbugs, has started work on a possible float, Amphion said.
Last October, another portfolio company, Kromek listed on AIM, though it was largely a reduction in the value of its 10.6% residual holding in the X-ray technology specialist that prompted losses rising in the six months to June to US$8.1mln.
There was an operating loss of US$1.77mln, while net assets at the half year were 0.024p.
Amphion added it would draw an additional US$1mln under its standby facility in four monthly instalments of US$250,000 starting in September.
“While we remain cautious, the improvement in the public markets over the last two years has improved the prospects for financing and is a major development for Amphion,” it said.
“The return of a viable IPO market is a critical and positive development and, if it continues to improve, should have a positive effect on the availability of capital for Amphion and our partner companies.“