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EPIC: MTPH
Market: AIM
52-week High/Low: 189.90p / 100.51p
Sector: Pharmaceuticals
Market Cap: 52.84M
Phone: +44 (0)1235 841 575
Address: Milton Park Innovation Centre, 99 Park Drive, Abingdon, Oxfordshire OX14 4RY.
Website: www.midatechpharma.com
Midatech Pharma Plc

Midatech Pharma Plc

Midatech is an international specialty pharmaceutical company focused on developing and commercialising products in oncology and other therapeutic areas.

 

Midatech Pharma Plc

www.midatechpharma.com

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Big picture - Why invest in Midatech Pharma Plc


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With the balance sheet now significantly strengthened, we anticipate the company is well-positioned to capture value in areas where its technology platforms offer material improvements for patient care - Panmure Gordon.

Midatech Pharma Plc Snapshot

Midatech’s strategy is to expand its US commercial presence as well as develop its platform technologies into multiple products in order to achieve multiple potential revenue opportunities. Its business model has three key components:

Development and commercialisation of its own products, particularly for rare cancers

Development and commercialisation of partner-supported and licensed products, principally in endocrine disorders such as diabetes, and immunotherapy for autoimmune diseases

Acquisitions of later stage, strategic and complementary opportunities (products or technologies) that accelerate revenue, and are value accretive

Its commercialisation strategy is to build an enduring, profitable and commercially focused enterprise with revenues generated as follows:

Research and development collaborations

Partner licensing and royalty deals

Commercialisation of own products in the specialist orphan sector

In oncology, Midatech has the opportunity to leverage its own commercial capabilities in the US and roll out similar infrastructure in Europe around the market entry of its orphan oncology program products.

Technologies

Versatile technology platforms with broad applications across multiple therapeutic areas.

Central to Midatech’s business are two platform technologies that are designed to enable the targeted delivery (‘right place’) and controlled release (‘right time’) of existing drugs. These technologies have broad applications in multiple therapeutic areas and will allow Midatech to develop multiple revenue streams.

GNP Technology

Midatech’s primary platform technology is based on carbohydrate-coated gold nanoparticle (GNP) drug conjugates.

   

  

Midatech’s core technology platform is based on a patented form of gold nanoparticles (GNPs), which has been developed to improve key parameters when bound to existing and new drugs. GNPs aim to target individual cell types with specific targeting agents and deliver a therapeutic payload into the tumour cell, and reduce the current side-effect profile associated with chemotherapy. GNP technology is the latest generation of nanomedicine, with demonstrated safety in the clinic to date.

The key advantages of Midatech’s GNP platform technology are:

  • Solubility: Can bind and transport non-soluble and lipid soluble therapeutic compounds to sites of disease
  • Releasability: GNP-drug conjugates can release the active compound inside the cell
  • Mobility: Small size (3.5 nanometer diameter) means GNP-drug conjugates may cross membranes (including the blood brain barrier), move between cells and through cells to reach diseased cells
  • Targetability: Multiple binding sites mean several therapeutics and targeting agents may be attached to a single nanoparticle
  • Stability: Peptides may be stabilised by GNP drug conjugates as they have less freedom to degrade when bound
  • Excretability: Due to their small size, GNP drug conjugates are believed to exit cells and get eliminated via the kidneys and liver
  • Compatibility: GNPs are inert and biocompatible, and are not expected to trigger an immune response
  • Scalability: Through its own GMP manufacturing facility, Midatech can control the supply and develop quality material for clinical trials and commercialisation

For more information, please click here

Sustained Release

Midatech’s sustained release technology platform (“Q-Sphera”) may enable active drug compounds to be manufactured with consistent precision and released into the body in a highly controlled manner over a prolonged period of time: potentially from a few days to up to six months.

The potential advantages of the sustained release drug delivery system over conventional dosage forms include:

  • Improved patient compliance: due to less frequent drug administration
  • Reduction of fluctuation in steady-state drug levels
  • Maximum use of the drug
  • Increased safety margin
  • Reduction in healthcare costs through improved therapy

Midatech’s Q-Sphera polymer microsphere platform is being developed to enable sustained release delivery solutions for peptide and small-molecule therapeutics through precise definition of the properties of polymer microparticles into which compounds can be incorporated. Microspheres are small, spherical particles that can be utilised as a time release drug capsule.

Midatech's Q-Sphera micro-fluidic technology allows the precise formulation and characterisation of the release of drugs over a predefined period from a few days up to three months. The manufacturing technology allows particles to be engineered with high precision and consistent size, alongside other key characteristics.

Q-Sphera can use a wide range of biomaterials to encapsulate drug candidates into micron sized particles (of diameter ~25μm). Long-acting treatment is achieved using formulations of biodegradable polymers (including polylactides) to control the release of API over a period of 3-6 months following a single injection. Monodisperse microspheres may be readily injected via minimally-invasive needles as fine as 30G. In formulating small molecules, biopharmaceuticals and PEGylated species, Midatech focuses on developing products that provide high drug loading, with minimal initial burst release, which is essential to the development of safe and effective therapies. This requires precise control over particle size, morphology and drug kinetics. This Midatech microsphere manufacturing enables emulsion-free synthesis with both product monodispersity and processing efficiency.

Markets of focus for such preparations include oncology, immunology, endocrinology, neuroscience, and ophthalmology. Sustained release programs are underway in:

Oncology and Endocrinology/ Q-Octreotide—a lead program in acromegaly, an endocrine disorder in which the body produces too much growth hormone, and a second programme in carcinoid syndrome, an oncologic disorder of neuro-endocrine tumours; and
Ophthalmology/ Opsisporin—in uveitis (inflammation of the eye).

Manufacturing

Midatech operates an in-house nanoparticle manufacturing facility, which is believed to be the first licensed API cGMP facility of its kind in Europe. This state-of-the-art facility based in Bilbao, Spain, aids in the rapid execution of projects, control of manufacturing quality and supply of all aspects of Midatech’s GNP platform, thus avoiding reliance on external manufacturing partners.

The site has capacity for manufacturing sufficient materials for clinical trials and is fully licensed by the Spanish Medicines Agency for European compliance. The facility underwent a €800,000 upgrade in September 2014 to enable the production of sterile material for use in human clinical trials and initial phase manufacturing of licensed product.

Also in 2014, an international consortium led by Midatech was selected to receive a €7.9 million Horizon 2020 European Union “NanoFacturing” grant to fund the manufacturing scale-up of clinical-grade therapeutics based on its GNP drug conjugate technology and other nanopharmaceuticals, for use in clinical trials and in preparation for commercial production and supply. Midatech is also able to leverage this facility to manufacture for other non-competing nanomedicine businesses, representing additional revenue - generating opportunities. The Horizon 2020 grant submission was supported by Eli Lilly.

Further investment in commercial scale up of production is on-going at Midatech Bilbao facility. This will enable Midatech to capture more of the integrated value chain and manufacture in-house Q-Octreotide and other projects.

 

R&D

Midatech's two platform technologies are designed to enable targeted delivery and sustained release respectively of existing therapeutic drugs to the ‘right place’ at the ‘right time’. The first of these platforms is a Gold Nanoparticle Technology Platform (GNPs) that are developed to improve key parameters of existing and new drugs, target individual cell types with specific targeting agents and deliver a payload in the cell, while ensuring this can be achieved safely. GNP technology represents amongst the latest generation of nanomedicine and the fastest growing sector within the nanomedicine market. The second of these platforms is a Microsphere Sustained Release Technology Platform (SR) that achieves consistent and precise encapsulation of active drug compounds within polymer microspheres. The microspheres are designed to release the active drug compound into the body in a highly controlled manner over a prolonged period of time, from a number of weeks to six months and potentially longer. Sustained release technology provides the added capacity to sustain the optimal range of drug concentrations, which has wide medical applicability with diverse pharmaceutically active molecules.

For information on Oncology, please click here

For information on Autoimmune Diseases, please click here

To view the pipeline of products, please click here

For  more information on Q-Octreotide, please click here

For more information on Opsisporin, please click here

For more information on HCC, please click here

For more information on Glioblastoma (GBM), please click here

For more information on Diabetes Vaccine, please click here

 

Rolf Stahel Non-executive Chairman

Mr Stahel has approximately 40 years of experience in the pharmaceutical industry, of which around 20 years were spent at Chief Executive and Board level in public (United Kingdom, Switzerland and United States) and private life science companies registered in Europe, the United States and Asia. Mr Stahel joined Shire as CEO in 1994 following a 27-year career at Wellcome plc (now GlaxoSmithKline). He is currently the Non-executive Chairman of Connexios Life Sciences Pvt Ltd and Ergomed PLC, and previously the Non-executive Chairman of EUSA Pharma, Cosmos Pharmaceuticals SpA, PowderMed Ltd and Newron Pharmaceuticals SpA.

Jim Phillips Chief Executive Officer

Dr Phillips has a strong background in company leadership and business development, and is a physician by training. He founded Talisker Pharma in 2004, which was the first and cornerstone acquisition of EUSA Pharma in 2006. As President of Europe and Senior Vice President, Corporate Development of EUSA Pharma Inc., Dr Phillips led the strategy resulting in the acquisition of OPI and its ultimate acquisition by Jazz Pharmaceuticals in 2012. Dr Phillips is currently a Non-executive Director of Herantis Pharma plc (listed in Helsinki), Insense Ltd (a private spin-out from Unilever), and, until joining Midatech, was Chairman of Prosonix Limited, guiding its successful transformation into a respiratory focused business.

Dr Phillips initially held senior positions at Johnson & Johnson and Novartis Pharmaceuticals. At Novartis, he was in Clinical & Business Development and was a Board Director of the $1.3bn Arthritis, Bone, Gastrointestinal, Haematology and Infectious Diseases business unit and a member of the company’s Clinical Leadership Team.

Nick Robbins-Cherry Finance Director

Mr Robbins-Cherry is a Chartered Accountant and MBA with extensive commercial and finance experience gained in the life sciences, technology and consulting sectors, including roles at CACI Limited, Johnson & Johnson and ICI PLC. He has a strong track record in mergers and acquisitions and of managing complex multi-national businesses. He qualified with Coopers & Lybrand (now PricewaterhouseCoopers) and has a BSc in Pharmacology.

Simon Turton Senior Independent Non-executive Director

Dr Turton previously headed Warburg Pincus’ healthcare investing activities in Europe and was a Principal at Index Ventures in Geneva. He has over ten years of experience investing in biopharma companies following a ten-year career in the international pharmaceutical industry incorporating research, business development and general management. Dr Turton has an MBA from INSEAD and a PhD in pharmacy from the University of London. He has been a board director of Archimedes Pharma, Eurand, ProStrakan and Tornier. Dr Turton was most recently Chairman of Q Chip and OpsiRx Pharmaceuticals prior to their acquisition by the Group.

John Johnston Non-executive Director

Mr Johnston is currently non-executive director of Flowgroup plc, Action Hotels and prior to this, was Managing Director of Institutional Sales at Nomura Code. He was previously Director of Sales and Trading at Seymour Pierce from 2008 to 2011. In 2003, Mr Johnston founded Revera Asset Management, at which he oversaw an investment trust, a unit trust and a hedge fund, which he ran until 2007. He was Director of Small Companies Technology and Venture Capital Trusts at Legg Mason Investors from 2000 to 2003, having previously spent two years as Head of Small Companies with Murray Johnstone. From 1992 to 1997, Mr Johnston was Head of Small Companies at Scottish Amicable, before spending a year at Ivory and Sime, again as Head of Small Companies from 1997 to 1998. He began his investment career at the Royal Bank of Scotland in 1981, working in the Trustee and Investment department, before moving to General Accident in 1985, holding the position of Head of Retail Funds before his move to Scottish Amicable.

Michele Luzi Non-executive Director

Mr Luzi is a partner in Bain & Company, based in the London office. He has recently led Bain’s EMEA Telecommunications Technology Media Practice for seven years and he was a board director of Bain & Company Global between 2006 and 2009. He has been a member of the World Economic Forum Global 36 Agenda Council and of the Web Foundation Advisory Board. Prior to joining Bain & Company, Mr Luzi worked in international management positions with Pirelli and also worked in Agusta and with the Italian Trade Commission. Mr Luzi earned his MBA from INSEAD and graduated in Economics, with Honours, from the University of Rome.

Pavlo Protopapa Non-executive Director

Mr Protopapa is the founder and managing partner of Ippon Capital, a private equity company based in Geneva, Switzerland. He is the chairman and chief executive officer of Spacecode Holdings, a technology provider in Healthcare & Luxury Goods, which he founded in 2005. He also serves as a non-executive director and lead investor of Socure Inc, a SaaS-based internet security company operating out of New York, USA. Pavlo has a Bachelor of Commerce (accounting, economics and commercial law) and Bachelor of Accounting Science (accounting) from the University of the Witwatersrand and the University of South Africa, respectively. He completed his articles at KPMG in Johannesburg, South Africa and has more than 15 years of experience in international commerce as chief financial officer of the Steinmetz Diamond Group from 1997 to 2012.

Sijmen de Vries Non-executive Director

Dr de Vries has extensive senior level experience in both the pharmaceutical and biotechnology industry. He is currently CEO and CFO of Pharming group N.V., the Euronext-listed pharmaceutical company. Dr de Vries was previously CEO of both Switzerland-based 4-Antibody and Morphochem AG, and prior to this he worked at Novartis Pharma, Novartis Ophthalmics and at SmithKline Beecham Pharmaceuticals Plc, where he held senior business and commercial positions. Dr de Vries holds an MD degree from the University of Amsterdam and a MBA in General Management from Ashridge Management College (UK).

Major shareholders
Midatech Pharma has been notified or is aware of the following holdings of more than 3% or more of the issued share capital of the Company.
Name Number of shares %
Woodford Investment Management 9,867,629 20.3
Legal & General Group

4,540,518

9.3
Ferracom Establishment 3,043,164 6.2
Hargreave Hale 2,987,585 6.1
City Financial 2,000,000 4.1
Ippon Capital SA 1,649,334 3.4
Disruptive Capital Finance LLP 1,618,811 3.3

Information correct as at 03 January 2017

 

Midatech Pharma Plc

65 Innovation Drive

Milton Park

Abingdon

Oxfordshire OX14 4RQ

United Kingdom

T: +44 (0)1235 888300
E: [email protected]

Nominated Adviser and Broker
Panmure Gordon (UK) Limited
One New Change
London
EC4M 9AF
United Kingdom
+44 (0)20 7886 2500

Financial Public Relations & Investor Relations (UK)
Consilium Strategic Communications (City, trade, institutions and financial media enquiries)
41 Lothbury
London EC2R 7HG
United Kingdom
+44 (0)20 3709 5700
[email protected]

Cassiopeia Services (Private investors and general media enquiries)
55 Gower Street
London WC1E6HQ
United Kingdom
[email protected]

Investor Relations (US)

Westwicke Partners, Boston, US
132 Chief Justice Cushing Highway
Cohasset, MA 02025 | (339) 970-2843Solicitors

Solicitors

Brown Rudnick LLP
8 Clifford Street
London W1S 2LQ
United Kingdom

Reporting Accountants and Auditors

BDO LLP
55 Baker Street
London W1U 7EU
United Kingdom

Registrars

Neville Registrars Limited
Neville House
18 Laurel Lane
Halesowen B63 3DA
United Kingdom

Midatech Pharma Plc Timeline

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November 22 2016

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