Amphion Innovations still considering funding options

Amphion Innovations said on Thursday that it was not aware of any reason for the recent movement in its share price and that it is still considering its funding options.

The AIM-listed developer of medical, life science and technology businesses highlighted the share price gains of two of its investments: Partner Companies Motif, in which it holds an 8.5% stake, and Polarean Imaging, in which it holds a stake of around 18.2%.

"The company remains cash constrained and as previously announced continues to consider both its short term and medium-term funding options and work with the company's debt providers, including the convertible promissory note (CPN) holders with whom the company has been able to reach accommodations in the past."

Amphion said it is proposing to extend the term of the debt to 31 December 2019 following expiration of the CPN on 31 December 2018. A further announcement will be made in due course.

Amphion shares hit a high of 1.65p earlier in the day, compared to 0.50p on Monday.

At 1520 GMT, the shares were down 7.9% to 1.04p.