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Midatech completes cancer side-effect treatment deal

Zuplenz is treatment to prevent nausea and vomiting stemming from radiation-based cancer treatments.
Midatech completes cancer side-effect treatment deal
The treatment is an anti-emetic oral-soluble film

Fast growing drug delivery group Midatech (LON:MTPH, NASDAQ:MTP) has completed the acquisition of Zuplenz, a treatment for the side effects of chemotherapy.

Zuplenz is treatment to prevent nausea and vomiting stemming from radiation-based cancer treatments.

Dr Jim Phillips, chief executive, said: "We are pleased to complete the acquisition of Zuplenz, which adds to our rapidly growing portfolio of marketed oncology products. 

“We believe that our recent product acquisitions will help drive the group towards sustainable profitability."

The treatment is an anti-emetic oral-soluble film which has a target market of US$4.6bn by 2018.

The fact that it does not need to be injected or swallowed is what differentiates it, said Midatech.

It will use the commercial infrastructure that came with recent US acquisition DARA Biosciences to distribute Zuplenz, which also complements its three existing marketed oncology products.

Midatech will pay Zuplenz’s current owner, Galena Biopharma (NASDAQ:GALE), US$3.75mln upfront, but this total could rise eventually by a further US$26mln depending on its success.

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Jim Phillips, Midatech’s chief executive, said Zuplenz offers relief from some of the most debilitating side-effects of common cancer treatments. Generically called ondansetron, the oral soluble film eases the problem of gritty residue, having to wear a patch and sedative side effects of dissolving tablets and injections.

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