Proactiveinvestors United Kingdom Midatech Pharma PLC https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Midatech Pharma PLC RSS feed en Tue, 23 Jul 2019 17:18:48 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190719164028_14156905/ Fri, 19 Jul 2019 16:40:28 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190719164028_14156905/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190719163522_14156897/ Fri, 19 Jul 2019 16:35:22 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190719163522_14156897/ <![CDATA[News - Midatech Pharma hails positive results from first in man study ]]> https://www.proactiveinvestors.co.uk/companies/news/224193/midatech-pharma-hails-positive-results-from-first-in-man-study-224193.html Midatech Pharma PLC (LON: MTPH.L, NASDAQ:MTP) has announced positive results from a phase I clinical trial of a drug being developed to treat type-1 diabetes.

Researchers were assessing the safety of MTX102, which is being designed as a vaccine. Five patients received the drug and other than some reactions around the injection site “no serious adverse events were reported”.

“The study now enters a follow up stage, at the end of which we will review the data and programme, together with the EU consortium partners,” said Colin Dayan, the lead investigator.

The early-stage assessment was part of an EU project involving a number companies and academic bodies.

Gold nanoparticles 

They are evaluating a vaccine approach for the treatment of type-1 diabetes using Midatech’s gold nanoparticle technology.

The company’s MidaCore technology uses ultra-small gold nanoparticle drug conjugates. And, at just two nanometres, they are among the smallest particles in biomedical use.

They are composed of a core of gold atoms decorated with a permutation of an already-available drug treatment and targeting molecules.

The small size and arrangement around the gold core in theory allows the technology to target immune sites and tumours.

Midatech chief executive Craig Cook said the data generated to date from the first-in-human study helps validate the technology as a “potentially innovative treatment platform for medical applications".

---The shares rose 7% to 5.4p---

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Fri, 19 Jul 2019 07:48:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/224193/midatech-pharma-hails-positive-results-from-first-in-man-study-224193.html
<![CDATA[RNS press release - MTX102 Safety Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190719070002_14155464/ Fri, 19 Jul 2019 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190719070002_14155464/ <![CDATA[News - Midatech Pharma soars following “encouraging” dose data in MTX110 study ]]> https://www.proactiveinvestors.co.uk/companies/news/223272/midatech-pharma-soars-following-encouraging-dose-data-in-mtx110-study-223272.html Midatech Pharma PLC (LON:MTPH) shares soared on Wednesday after encouraging data from a Phase I trial of its MTX110 treatment.

The AIM-listed biotech firm said that the Phase I study, which is evaluating safe dosing levels for MTX110 in humans, had shown that the treatment had been “well tolerated” in the patients treated to date, and as a result a further two higher dose levels had been added to the study on top of the original five.

READ: Midatech lays out development plan for MTD201

The Phase I component is scheduled to complete in the third quarter of 2019, Midatech said, and based on the initial results from the study Phase II of the programme, which will test the efficacy of MTX110, would be set at the upper dosage level achieved in Phase I.

Phase II of the study is expected to begin in either the third or fourth quarter of 2019.

Dr Craig Cook, chief executive of Midatech, said patients had reacted “very well” to the treatment from a safety perspective and that the firm looks forward to providing further updates.

MTX110 is designed to treat childhood brain cancers such as Diffuse Intrinsic Pontine Glioma (DIPG), an ultra-rare and highly aggressive tumour located in the brain stem that is universally fatal with a life expectancy of 7 to 9 months. There is currently no effective treatment for DIPG.

Midatech is also evaluating MTX110 as a possible treatment for Glioblastoma Multiforme, a fast-growing form of brain cancer in adults.

In mid-morning trading, the shares were 11.7% higher at 5.8p.

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Wed, 03 Jul 2019 10:24:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/223272/midatech-pharma-soars-following-encouraging-dose-data-in-mtx110-study-223272.html
<![CDATA[RNS press release - MTX110 Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190703093004_14134857/ Wed, 03 Jul 2019 09:30:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190703093004_14134857/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190619120003_14116954/ Wed, 19 Jun 2019 12:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190619120003_14116954/ <![CDATA[News - Midatech lays out development plan for MTD201 ]]> https://www.proactiveinvestors.co.uk/companies/news/222042/midatech-lays-out-development-plan-for-mtd201-222042.html Midatech Pharma PLC (LON:MTPH) has finalised a development plan for its MTD201 Q-Octreotide product.

The AIM-listed firm said it planned to develop MTD201 as a new product for the treatment of acromegaly, where the body produces too much growth hormone, and neuroendocrine tumours (NET), which affect hormone-releasing cells and can sometimes be cancerous.

READ: Midatech Pharma shares jump as it looks forward to a 'value creating 18-24 months'

Midatech said in a 2018 phase 1 exploratory study MTD201 had delivered favourably when compared to the market-leading Sandostatin LAR (SLAR), developed by Swiss pharma firm Novartis.

Additional advantages demonstrated in the study included smaller, less painful needle sizes, simpler and error free injection, quicker bedside reconstitution (taking less than 10 minutes versus up to 40 minutes for SLAR), reduced wastage and significantly lower manufacturing costs. 

Midatech also said the group’s Q-Sphera drug delivery platform offered a “significant competitive advantage”.

The company said it expected other competitive advantages to be leveraged for MTD201 including longer dosing intervals and the ability to inject higher doses and reduce the need for multiple injections.

Going forward, Midatech said the next phase of development was scheduled for the second half of 2019, while a pivotal registration study in acromegaly patients to compare MTD201 with a placebo was planned to begin in early 2020 following approval by regulators.

The pivotal study was expected to conclude in 2021, and subject to a successful outcome and commercial scale-up at the company’s manufacturing facility in Bilbao Midatech planned to submit marketing authorisation applications that same year.

Subject to funding, a pivotal registration programme for NET was also expected to begin in the first half of 2020.

“We are delighted to be able to lay out our roadmap to bring MTD201 to market.  Building on the exciting Phase I data and further leveraging the full potential of the Q-Sphera differentiating technology promises a compelling product opportunity for MTD201”, said Dr Craig Cook, Midatech’s chief executive.

“The development path has been finalised in close collaboration with our distinguished advisory board, and we believe we have a clear path to potential commercialisation”, he added.

In early trading on Thursday the shares were up 1.6% at 6.4p.

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Thu, 13 Jun 2019 08:34:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/222042/midatech-lays-out-development-plan-for-mtd201-222042.html
<![CDATA[RNS press release - MTD201 Development Plan ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190613070013_14109048/ Thu, 13 Jun 2019 07:00:13 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190613070013_14109048/ <![CDATA[RNS press release - Posting of Annual Report & Notice of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190524172503_14087582/ Fri, 24 May 2019 17:25:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190524172503_14087582/ <![CDATA[News - Midatech Pharma primed for a busy year ]]> https://www.proactiveinvestors.co.uk/companies/news/220328/midatech-pharma-primed-for-a-busy-year-220328.html R&D company Midatech is developing a range of improved chemo-therapies and new immuno-therapeutics using its three drug delivery platforms. Each of the technologies is focused on improved delivery and distribution of medicines to areas of the body where they are needed and can exert their actions in an effective, safe and precise manner.

Q-Sphera is a polymer microsphere innovation used to prolong and control the release of therapeutics over an extended period of time -from weeks to months.

MidaCore is the company’s gold nanoparticle product used for targeting sites of disease at the nanoscale, usually chemotherapy, but also the new breed of immunotherapies.

MidaSolve is used to dissolve otherwise insoluble drugs so they can be administered in liquid form directly and locally into tumours.

It has three drugs in or entering the clinic treating carcinoid cancer, acromegaly (a hormonal disorder), brain cancer in children, and type-1 auto-immune diabetes (see below).

Inflexion points

Last month Midatech said it had begun a “new chapter” where it is aiming to provide investors with two years packed with news flow. After selling its US commercial business late last year, the company is now fully focused on developing its drugs pipeline, with the company’s two lead drugs in human clinical trials.

With MTD201 (Q-Sphera technology) has taken an existing drug for acromegaly and improved its efficiency and precision. After an early-phase clinical trial it must decide whether to pursue a differentiated product with a distinct clinical profile compared with the existing medication, or to establish an interchangeable alternative to it. Midatech expects to finalise that decision soon, ahead of the next clinical programme set for the second-half of this year. If this is successful, MDT201 could be submitted for marketing authorisation in 2021.

MTX110 (MidaSolve). A read-out from a phase I dose-escalating and safety study on children with brain cancer is expected sometime this year. “Results to date have been encouraging and show that the therapy is well tolerated,” the company said recently. “This phase will also establish the recommended dose to be used in the follow-on phase II efficacy component of the study programme, with the objective of assessing patient survival rates after 12 months. It would be wonderful to make a difference to patients and families dealing with this shattering disease.”

In March firm said the Spanish government had conditionally approved a €6.6mln Reindustrialisation, or Reindus loan that will be used to help commercialise its flagship drug. In all, the group has received around €8.5mln of public backing towards the estimated €16mln costs to build a plant in Bilbao to manufacture its MTD201 Q-Octreotide development product. Chief executive Craig Cook said the Reindus loan would provide “a real boost” to the commercial manufacturing scale-up scheduled over the next 18-24 months in Bilbao.

Chief executive Craig Cook said…

"2018 was a year of strategic refocusing of the business, with Midatech becoming a pure-play R&D company following the divestment of our US commercial operation in November, a major milestone for the group. We believe the company has entered a new chapter in its growth as a streamlined R&D focused business with in-house manufacturing. We are now delivering on clinical milestones, with strong clinical data, and a compelling pipeline for our proprietary drug delivery platforms, all of which are now into the clinic.”

 

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Wed, 15 May 2019 14:10:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/220328/midatech-pharma-primed-for-a-busy-year-220328.html
<![CDATA[RNS press release - Turner Pope Investor Evening ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190507070009_14063557/ Tue, 07 May 2019 07:00:09 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190507070009_14063557/ <![CDATA[RNS press release - Receipt of NASDAQ Notification ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190426163001_14054246/ Fri, 26 Apr 2019 16:30:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190426163001_14054246/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190425164038_14052488/ Thu, 25 Apr 2019 16:40:38 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190425164038_14052488/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190425163553_14052474/ Thu, 25 Apr 2019 16:35:53 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190425163553_14052474/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190424164050_14050732/ Wed, 24 Apr 2019 16:40:50 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190424164050_14050732/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190424163544_14050723/ Wed, 24 Apr 2019 16:35:44 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190424163544_14050723/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190424140543_14050504/ Wed, 24 Apr 2019 14:05:43 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190424140543_14050504/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190424140031_14050502/ Wed, 24 Apr 2019 14:00:31 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190424140031_14050502/ <![CDATA[News - Midatech Pharma shares jump as it looks forward to a 'value creating 18-24 months' ]]> https://www.proactiveinvestors.co.uk/companies/news/219017/midatech-pharma-shares-jump-as-it-looks-forward-to-a--value-creating-18-24-months--219017.html A slimmed-down Midatech Pharma PLC (LON:MTPH) surged on Wednesday as it began on a “new chapter” where it aims to provide investors with two years packed with news flow about its proprietary drug delivery platforms.

After selling its US commercial business late last year, the company is now fully focused on developing its drugs pipeline, with the company’s two lead drugs entering human clinical trials.

READ: Midatech Pharma shares soar as it receives €6.6mln from Spanish government

Chief executive Craig Cook, who joined last summer, said he hoped this would set up a “value creating 18-24 months, rich in news flow and milestones for our programmes, platforms and the company, through 2019 and 2020”.

Cook said 2018 was “a year of strategic refocusing of the business” as a pure-play R&D company.

"We believe the company has entered a new chapter in its growth as a streamlined R&D focused business with in-house manufacturing. We are now delivering on clinical milestones, with strong clinical data, and a compelling pipeline for our proprietary drug delivery platforms, all of which are now into the clinic.

"We look forward to an exciting period ahead, creating value for all stakeholders."

After making a £10.4mln loss from continuing operations over the course of 2018, Midatech had £2.34mln cash and deposits in the bank at the end of December, down from £13.2mln a year before.

The boost since the year-end was due to the €1.5mln loan from the Basque regional government in January, then a £8mln strategic investment from China Medical System (CMS) and a £5.4mln fundraising from investors, both in February.

The deal with CMS “marks a genuine turning point”, said Cook, as the Chinese speciality pharmaceutical group’s purchase of a 51% stake was accompanied by a licence Midatech’s pipeline products in the Greater China Area and certain Southeast Asian countries. CMS will also pay Midatech milestones payments as its pipeline drugs notch up regulatory and sales-based targets.

Shares in Midatech, which is listed on London's AIM and the Nasdaq in New York, jumped more than 55% to 12.3p, more than a five-month high, on Wednesday afternoon as US investors woke up to the story.

 -- Adds share price --

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Wed, 24 Apr 2019 08:57:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/219017/midatech-pharma-shares-jump-as-it-looks-forward-to-a--value-creating-18-24-months--219017.html
<![CDATA[RNS press release - Final Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190424070004_14049230/ Wed, 24 Apr 2019 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190424070004_14049230/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190409164110_14034888/ Tue, 09 Apr 2019 16:41:10 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190409164110_14034888/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190409163548_14034876/ Tue, 09 Apr 2019 16:35:48 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190409163548_14034876/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190405110549_14030873/ Fri, 05 Apr 2019 11:05:49 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190405110549_14030873/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190405110037_14030867/ Fri, 05 Apr 2019 11:00:37 +0100 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190405110037_14030867/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190329140609_14021853/ Fri, 29 Mar 2019 14:06:09 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190329140609_14021853/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190329140023_14021844/ Fri, 29 Mar 2019 14:00:23 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190329140023_14021844/ <![CDATA[News - Midatech Pharma shares soar as it receives €6.6mln from Spanish government ]]> https://www.proactiveinvestors.co.uk/companies/news/217500/midatech-pharma-shares-soar-as-it-receives-66mln-from-spanish-government-217500.html Midatech Pharma PLC (LON:MTPH) shares soared higher on Friday as the firm said the Spanish government had conditionally approved a €6.6mln Reindustrialisation, or Reindus loan that will be used to help commercialise its flagship drug.

In all, the group has received around €8.5mln of public backing towards the estimated €16mln costs to build a plant in Bilbao to manufacture its MTD201 Q-Octreotide development product.

READ: Midatech Pharma soars as Chinese licensing deal is approved

MTD201 is a treatment for a hormonal disorder called acromegaly and neuroendocrine tumours such as carcinoid cancer. It is based on the company's polymer microsphere technology, Q-Sphera, which provides a sustained release method of delivery.

Chief executive Craig Cook said the Reindus loan would provide “a real boost” to the commercial manufacturing scale-up scheduled over the next 18-24 months in Bilbao.

“For our lead programme MTD201, completion of the commercial manufacturing is required prior to submitting for marketing authorisation in the US and EU, and the Reindus loan allows us to plan and move ahead with more confidence,” he added.

The loan, which will be provided at a coupon of 1.6%, requires Midatech to provide a €2.6mln guarantee. Repayments begin three years after drawdown over a 10-year term.

In late morning trading, Midatech shares were up 25% to 7p.

 -- Adds share price --

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Fri, 29 Mar 2019 08:02:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/217500/midatech-pharma-shares-soar-as-it-receives-66mln-from-spanish-government-217500.html
<![CDATA[RNS press release - Spanish Government Loan Approval ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190329070008_14020445/ Fri, 29 Mar 2019 07:00:08 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190329070008_14020445/ <![CDATA[News - Midatech Pharma to change iADR ratio to try and bring price into compliance with Nasdaq minimum bid price ]]> https://www.proactiveinvestors.co.uk/companies/news/216822/midatech-pharma-to-change-iadr-ratio-to-try-and-bring-price-into-compliance-with-nasdaq-minimum-bid-price-216822.html Midatech Pharma PLC (LON:MTPH) (NASDAQ:MTP) has announced a ratio change on its American Depositary Receipts from one ADR representing two ordinary shares, to a new ratio of one ADR representing twenty ordinary shares.

The AIM-listed R&D company, focused on delivering innovative oncology and rare disease products to patients, said the effective date of the ratio change is expected to be 8 April 2019.

READ: Midatech Pharma soars as Chinese licensing deal is approved

For ADR holders, Midatech said the change will have the same effect as a one-for-10 reverse ADR split.

It added that the change is aimed to bring the price of the company's ADRs into compliance with the Nasdaq US$1.00 minimum bid price per share requirement, though Midatech said it can give no assurance that the ratio change will be effective in achieving this goal.

The company said the number of its ADRs in issue on 18 March 2019 was 8,293,832.

The group pointed out that the London-listed ordinary shares of Midatech will not be affected by this change.

In early morning trading, Midatech shares were up 4.5% at 5.85p.

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Wed, 20 Mar 2019 08:48:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/216822/midatech-pharma-to-change-iadr-ratio-to-try-and-bring-price-into-compliance-with-nasdaq-minimum-bid-price-216822.html
<![CDATA[RNS press release - ADR Ratio Change ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190320070004_14008236/ Wed, 20 Mar 2019 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190320070004_14008236/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190228164105_13986034/ Thu, 28 Feb 2019 16:41:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190228164105_13986034/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190228163602_13986024/ Thu, 28 Feb 2019 16:36:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190228163602_13986024/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190228110550_13985401/ Thu, 28 Feb 2019 11:05:50 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190228110550_13985401/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190228110028_13985392/ Thu, 28 Feb 2019 11:00:28 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190228110028_13985392/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190227164027_13984207/ Wed, 27 Feb 2019 16:40:27 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190227164027_13984207/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190227163535_13984193/ Wed, 27 Feb 2019 16:35:35 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190227163535_13984193/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190227105235_13983672/ Wed, 27 Feb 2019 10:52:35 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190227105235_13983672/ <![CDATA[News - Midatech Pharma soars as Chinese licensing deal is approved ]]> https://www.proactiveinvestors.co.uk/companies/news/215325/midatech-pharma-soars-as-chinese-licensing-deal-is-approved-215325.html Midatech Pharma PLC (LON:MTPH) shares soared as shareholders approved a strategic investment by Chinese billionaire Lam Kong.

Through his China Medical Systems Holdings and A&B (HK) vehicles, Lam Kong will acquire 77% of the Oxfordshire-based pharma for 3.85p per new share or a total consideration of £8mln.

READ: Chinese billionaire invests £8mln in AIM drug developer Midatech

A licence agreement with both is now in force, giving the billionaire exclusive rights to develop and commercialise Midatech’s assets in China, Hong Kong, Macau and Taiwan.

Craig Cook, Midatech’s chief executive said: “This is a key collaboration for Midatech that provides a strong endorsement of our technologies and pipeline whilst establishing a solid foundation for a successful and ambitious long-term partnership.”

Shares in the AIM-listed company jumped 11% to 4.45p in afternoon trading.

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Tue, 26 Feb 2019 12:20:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/215325/midatech-pharma-soars-as-chinese-licensing-deal-is-approved-215325.html
<![CDATA[RNS press release - Finalisation of Licence Agreement ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190226112640_13982190/ Tue, 26 Feb 2019 11:26:40 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190226112640_13982190/ <![CDATA[News - Midatech says open offer oversubscribed, raises £13.4mln in aggregate from it, a placing and share subscription ]]> https://www.proactiveinvestors.co.uk/companies/news/215238/midatech-says-open-offer-oversubscribed-raises-134mln-in-aggregate-from-it-a-placing-and-share-subscription-215238.html Midatech Pharma PLC (LON:MTPH) (NASDAQ:MTP) said the open offer launched on 4 February together with a placing and share subscription, was oversubscribed with the firm raising £13.4mln in aggregate, before expenses,  from the offerings.

The AIM-listed group – which at the end of January revealed aid Chinese billionaire, Lam Kong a 77.3% stake in the company for £8mln – said it received valid acceptances in respect of 20,870,414 open offer units from qualifying shareholders, representing approximately 107% of the 19,456,554 units offered.

READ: Chinese billionaire invests £8mln in AIM drug developer Midatech

It added that, following scale-back, 100% of the 19,456,554 open offer units - comprising one new ordinary share and one warrant) - will be issued at a price of 3.85p each.

The company said all shareholders with valid applications will receive their full allocation of ordinary shares in respect of their basic entitlement, with excess shares allocated at the board’s absolute discretion.

Midatech added that all resolutions put to shareholders were duly passed at its general held earlier today in relation to the fund-raising.

The company also confirmed that, as previously announced, it completed its submission for a loan under the Spanish Ministry of Industry Reindustrialisation programme to cover up to 75% of the qualifying manufacturing scale-up cost, with the loan application outcome still expected to be known around the end of the first half of 2019.

In addition to this, the group added - as announced on 10 January 2019 – it has received approval for funding of €1.5mln for the company's manufacturing facility in Bilbao Spain.

The company confirmed that it received written confirmation from the Basque regional government on 7 January and that the loan finance is available upon submission of invoices by the company for validly incurred scale-up costs.

In said amounts drawn under the facility will be repayable from February 2022 at a rate of € 0.3mln per annum, with no interest in the facility.

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Mon, 25 Feb 2019 13:52:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/215238/midatech-says-open-offer-oversubscribed-raises-134mln-in-aggregate-from-it-a-placing-and-share-subscription-215238.html
<![CDATA[RNS press release - Result of the General Meeting and Board changes ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190225122354_13980649/ Mon, 25 Feb 2019 12:23:54 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190225122354_13980649/ <![CDATA[RNS press release - Posting of Circular and Notice of General Meeting ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190208163901_13963855/ Fri, 08 Feb 2019 16:39:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190208163901_13963855/ <![CDATA[RNS press release - Result of Placing ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190204183255_13957770/ Mon, 04 Feb 2019 18:32:55 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190204183255_13957770/ <![CDATA[News - Midatech Pharma unveils plans for £4mln equity raise to support drug trials ]]> https://www.proactiveinvestors.co.uk/companies/news/213921/midatech-pharma-unveils-plans-for-4mln-equity-raise-to-support-drug-trials-213921.html Midatech Pharma PLC (LON:MTPH)  has proposed a £4mln equity raise to support the development of its lead product MTD201.

The group plans to issue units, compromising of one new ordinary share and one warrant, at a price of 3.85p each, representing a 6.1% discount to the mid-market closing price on Friday. 

Midatech hopes to raise a further £750,000 through an open offer.  

The news of the fundraising comes less than a week after Midatech said Chinese billionaire, Lam Kong, would pay £8mln for a 77.3% stake in the company through his China Medical System and A&B Company businesses.

READ: Chinese billionaire invests £8mln in AIM drug developer Midatech

Midatech plans to use the proceeds of the investment from Kong, the issue of units and open offer to fund a pivotal clinical trial of MTD201 – a potential treatment for the hormonal disorder, acromegaly, and neuroendocrine tumours such as carcinoid cancer.

The trail is estimated to cost about £5mln-£7mln and is expected to begin in the second half of this year.

The funds will also help with the phase 1 and 2 trials of MTX110 for the treatment of DIPG - a very rare and fatal childhood brain cancer that has an average survival rate of nine months.

Midatech said the net proceeds of the placing and subscription are expected to provide the company with an estimated cash runway until the first quarter of 2020.

Based on current estimates of costs related to trials, group believes the funding would allow it to deliver “top-line data readout on a pivotal MTD201 clinical trial and potentially interim efficacy data on MTX110's open-label study”.

“We believe that Midatech is poised for a transformational period of growth with our R&D pipeline,” said Midatech chief executive Craig Cook. 

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Mon, 04 Feb 2019 15:46:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/213921/midatech-pharma-unveils-plans-for-4mln-equity-raise-to-support-drug-trials-213921.html
<![CDATA[RNS press release - Proposed Placing and Open Offer ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190204151641_13957562/ Mon, 04 Feb 2019 15:16:41 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190204151641_13957562/ <![CDATA[News - Chinese billionaire invests £8mln in AIM drug developer Midatech ]]> https://www.proactiveinvestors.co.uk/companies/news/213507/chinese-billionaire-invests-8mln-in-aim-drug-developer-midatech-213507.html A Chinese billionaire is set to take a 77.3% stake in AIM-quoted drug developer Midatech Pharma PLC (LON:MTPH).

Lam Kong, through his China Medical System and A&B Company businesses, has agreed to buy 207.8mln new shares for 3.85p each, bringing in £8mln for Midatech.

READ: Big name pharma starting to take note of Midatech’s drug delivery technology

The company, which has a market cap of £2.5mln, plans to use the proceeds to “pursue further development” of its lead product, MTD201 – a potential treatment for a hormonal disorder called acromegaly and carcinoid cancer.

A pivotal trial – which will cost between £5-7mln – is pencilled in for the second half of this year, and Kong’s cash injection will allow for that to get started, although Midatech has warned it would need more money to complete the study and prepare MTD201 for commercialisation.

To help top up its coffers a bit more, the junior pharma has also said it will carry out a placing and open offer with existing retail shareholders on the same terms as Kong.

The investment needs shareholder approval, as does a resolution which would allow Kong not to launch a formal bid for the company, as is normal when a shareholder’s stake surpasses 30%.

Should investors give their blessing, China Medical System – the drug distributor founded by Kong in 1995 – will sign a licence agreement giving it the exclusive right to develop and commercialise Midatech’s assets, including MTD201 and MTX110, in China, Hong Kong, Macau and Taiwan.

Hefty milestone payments

Midatech will manufacture and supply the licensed products, earning a manufacturing margin “in the low double-digit percentage range”, although the margin will be a bit less for MTX110 – a treatment for a rare type of brain tumour found in children – as Novartis will take a slice for the use of its panbinostat.

On top of that, the AIM firm is also entitled to receive various regulatory and sales-based milestone payments for each product which could run into the tens of millions, although these are not expected for a couple of years yet.

“The board believes that this partnership with the licensees has the potential to accelerate the development of the company's assets in the CMS Territory with a high quality, expert partner with demonstrable development and significant sales expertise, whilst permitting the company to retain its focus on its main target markets in the US and the EU and potentially to service the rest of the world.”

Having settled following an initial spike, Midatech shares were up 0.6% to 4.12p in late-morning trading on Tuesday.

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Tue, 29 Jan 2019 11:02:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/213507/chinese-billionaire-invests-8mln-in-aim-drug-developer-midatech-213507.html
<![CDATA[RNS press release - Strategic Investment & Licence Agreement ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190129092317_13950146/ Tue, 29 Jan 2019 09:23:17 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190129092317_13950146/ <![CDATA[RNS press release - FDA feedback on clinical plan for MTD201 ]]> https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190125070004_13946377/ Fri, 25 Jan 2019 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/10650/LSE20190125070004_13946377/ <![CDATA[News - Midatech Pharma outlines plans for drug candidate as it updates on funding position ]]> https://www.proactiveinvestors.co.uk/companies/news/213320/midatech-pharma-outlines-plans-for-drug-candidate-as-it-updates-on-funding-position-213320.html Midatech Pharma Plc (LON:MTPH, NASDAQ:MTP) outlined plans for its lead drug candidate as it updated on its funding position by stating it currently had “very limited cash”.

The former first: The company said that, after consultation with the US Food & Drug Administration, it was considering two scenarios for MTD201 Q-Octreotide, which is being developed to treat rare and debilitating tumour types.

READ: Midatech secures €1.5mln loan from Basque government on friendly terms

Midatech has to decide whether to conduct a multi-dose study in healthy volunteers, or to treat patients with the diseases.

An exploratory study last year showed MTD201, which uses a sustained release technology, to have a “number of competitive advantages" over the current standard of care, Novartis' Sandostatin LAR.

The Midatech drug, which is based on the company’s patented Q-Sphera platform, requires a smaller needed needle, is simpler and easier to inject as well as being cheaper than the Novaris treatment.

The life sciences group said it is currently planning to make a marketing authorisation submissions in 2021 and expects to have the required clinical data by then.

In the same announcement, Midatech said it was looking to conclude talks with an unnamed strategic investor as it has “very limited cash to enable it to continue as a going concern”.

“There is no guarantee that the company will be able to conclude these funding discussions on terms or quantum similar to those outlined in the update announcement or at all,” investors were told.

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Fri, 25 Jan 2019 02:44:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/213320/midatech-pharma-outlines-plans-for-drug-candidate-as-it-updates-on-funding-position-213320.html