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Midatech Pharma undergoing strategic review

Snapshot

  • Now a pure-play R&D company 
  • Has three breakthrough technologies 
scientist at petrie dish

Quick facts: Midatech Pharma PLC

Price: 34.5 GBX

AIM:MTPH
Market: AIM
Market Cap: £20.89 m
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What the company does

R&D company Midatech is developing a range of improved chemo-therapies and new immuno-therapeutics using its trio of 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.

 

How it is doing

In April, the firm appointed Noble Capital Markets to advise the group on the strategic review it is currently undertaking.

As of 20 April, Midatech was not in any discussions with potential suitors and had yet to be approached by parties interested in acquiring some or all of its clinical assets.

The firm has decided to terminate studies on MTD201 due to lack of funds, as the market is hit by the coronavirus pandemic. The current focus is on 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, Midatech announced a second phase 1 trial is to start in New York and would be run by Columbia University. This will run simultaneously with the trial at UCSF.

 

What the boss says: Rolf Stahel, chairman

"These are unprecedented times and the decisions we are announcing today regarding MTD201, our Bilbao manufacturing facility, and staff are regrettable but also necessary to give Midatech time to find and deliver a solution for all stakeholders." 

"Unfortunately, recent events have caused us to re-evaluate our strategy and priorities to ensure that we can fulfil the potential of our technologies and pipeline."

 

Inflexion points

  • Finding new partners
  • Second trial of MTX110 to get underway with potentially a third study later in 2020

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