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Midatech Pharma PLC

Midatech Pharma looks ahead to big 18 months as clinical trials build momentum

Snapshot

  • Now a pure-play R&D company 
  • Has three breakthrough technologies 
  • Two drugs in clinical trials 
scientist at petrie dish

Quick facts: Midatech Pharma PLC

Price: 6 GBX

Market: AIM
Market Cap: £24.59 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 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).

 

How is it doing

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.

In September, Midatech said the next 12-18 months would be a “transformational period” for the company with its two key products moving into the final stages of their clinical development.

MTD201 (Q-Sphera technology) is an existing drug for acromegaly where MIdatech has improved its efficiency and precision.

Dosing started in a phase 1 trial in October and 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, the Spanish government conditionally approved a €6.6mln Reindustrialisation, or Reindus loan 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.

 

What the boss says: Chief executive Craig Cook

"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.”

 

Inflexion points

  • Topline read-outs from MTD201 
  •  MTX110  dose-escalation set to conclude in the fourth quarter to be followed by a phase II assessment of efficacy
  • Cash of £9mln at the end of June

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