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New loan for Midatech promises greater profitability

Midatech Pharma Plc (LON:MTPH, NASDAQMTP) boss tells us how the company has secured a US$15mln, four-year senior loan facility that will be used to bankroll the clinical development of two promising cancer drug candidates. The funding has come via MidCap Financial, a middle market finance house, and Midtech has drawn down an initial US$7mln of the facility. CEO Jim Phillips tells Proactive what this will mean for Midatech during 2018 while giving us detail on new clinical trials on three different products.

Quick facts: Midatech Pharma PLC

Price: 21.5 GBX

AIM:MTPH
Market: AIM
Market Cap: £5.05 m
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