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.
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---