The oncology and rare disease specialist said the funds would be used to support its manufacturing facility in Bilbao
() shares surged on Wednesday after the biotech firm received a €6.6mln loan from the Spanish government.
The oncology and rare disease specialist will use the funds to support its manufacturing facility in Bilbao, bringing the total public financing for the project up to €8.5mln.
More specifically, Midatech said the loan will fund activities to scale up the manufacturing capability of its MTD201 product, a treatment for carcinoid cancer and other acromegaly and neuroendocrine (NET) tumours.
In lunchtime trading, the shares were 26.2% higher at 6.6p.
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