Midatech Pharma PLC Progress update on brain cancer therapies
May 22 2017 - 2:01AM
RNS Non-Regulatory
TIDMMTPH
Midatech Pharma PLC
22 May 2017
22 May 2017
Midatech Pharma PLC
("Midatech", "Company" or "Group")
Midatech announces progress update on brain cancer therapies
Midatech Pharma (AIM: MTPH, Nasdaq: MTP), the international
specialty pharmaceutical company focused on developing and
commercialising products in oncology, announces that it has
selected its preferred candidate for testing in glioblastoma (GBM)
brain cancer. The compound is under final evaluation with some key
pre-clinical studies to confirm efficacy before being progressed
into IND enabling trials and thereafter full development studies.
Additional candidates are also being evaluated in parallel.
The GBM candidate is based on Midatech's gold nanoparticle
technology which aims to improve the delivery of currently marketed
drugs to be specifically targeted at the tumour cells while sparing
healthy tissue, thereby reducing side effects and enhancing
efficacy. Worldwide, it is estimated that there are 240,000 cases
of brain and nervous system tumours per year, of which GBM is the
most common and the lowest survival rate, typically only 12 to 15
months.
Midatech has a portfolio of brain cancer product candidates that
are being developed with the goal of treating brain tumours via
either systemic administration and crossing the blood brain barrier
(BBB); and/or via intra-tumoural administration using a convection
enhanced delivery technique that bypasses the BBB and delivers
therapies directly into the tumour.
Midatech is developing MTX110, a potential treatment for DIPG
(diffuse intrinsic pontine glioma), an ultra-rare childhood brain
cancer for which there is currently no satisfactory treatment.
Patients' average survival time is currently just 7-9 months.
Clinical trials with MTX110 are expected to start in H2 2017 and,
following requests from DIPG physicians, the product has also been
made available on a compassionate use basis with several patients
under treatment. Brainstem tumours comprise approximately 10-15% of
all paediatric brain tumours, of which the most common subtype
(80%) is DIPG estimated to affect 2.5 per 1,000,000 patients in the
US and EU annually.
Commenting on this progress, Jim Phillips, CEO of Midatech
Pharma, remarked: "Midatech is developing a range of product
candidates for patients using potentially improved forms of cancer
therapies. Midatech's objective is to maximise tumour shrinkage
effects while minimising effects on normal cells through its 'right
place, right time' technology. The selection of a preferred
candidate to treat glioblastoma is an important milestone as we
look to advance our products into the clinic for challenging
cancers for which patients currently have a very poor
prognosis."
- Ends -
For more information, please contact:
Midatech Pharma PLC
Jim Phillips, CEO
Tel: +44 (0)1235 841575
www.midatechpharma.com
Panmure Gordon (UK) Limited (Nominated Adviser and Broker)
Corporate Finance
Freddy Crossley / Duncan Monteith
Broking
Tom Salvesen
Tel: +44 (0)20 7886 2500
Consilium Strategic Communications (Financial PR)
Mary Jane Elliott / Ivar Milligan / Cameron Standage
Tel: +44 (0)20 3709 5700
Email: midatech@consilium-comms.com
Westwicke Partners (US Investor Relations)
Chris Brinzey
Tel: +1 339 970 2843
Email: chris.brinzey@westwicke.com
Notes for Editors
About Midatech Pharma PLC
Midatech is an international specialty pharmaceutical company
focused on oncology with a US commercial operation marketing four
cancer care supportive products, and co-promoting two others.
Midatech's strategy is to internally develop oncology products and
collaborate with partners, and to drive growth both organically and
through strategic acquisitions. The Company's R&D activities
are supported by two breakthrough drug delivery technologies:
Q-Sphera for sustained release and our proprietary gold
nanoparticles. The Group, listed on AIM: MTPH and Nasdaq: MTP,
employs c.110 staff in four countries. For further company
information see: www.midatechpharma.com
Forward-Looking Statements
Certain statements in this press release may constitute
"forward-looking statements" within the meaning of legislation in
the United Kingdom and/or United States, including (without
limitation) those regarding the Group's financial position,
business strategy, products, plans and objectives of management for
future operations, and any statement preceded or followed by, or
including, words such as "target", "believe", "expect", "aim",
"intend", "will", "may", "anticipate", "would" or "could", or
negatives of such words. Any forward-looking statements are based
on currently available competitive, financial and economic data
together with management's views and assumptions regarding future
events and business performance as of the time the statements are
made and are subject to risks and uncertainties. We wish to caution
you that there are some known and unknown factors that could cause
actual results to differ materially from any future results,
performance or achievements expressed or implied by such
forward-looking statements.
Reference should be made to those documents that Midatech shall
file from time to time or announcements that may be made by
Midatech in accordance with the London Stock Exchange AIM Rules for
Companies ("AIM Rules"), the Disclosure and Transparency Rules
("DTRs") and the rules and regulations promulgated by the US
Securities and Exchange Commission, which contains and identifies
other important factors that could cause actual results to differ
materially from those contained in any projections or
forward-looking statements. These forward-looking statements speak
only as of the date of this announcement. All subsequent written
and oral forward-looking statements by or concerning Midatech are
expressly qualified in their entirety by the cautionary statements
above. Except as may be required under the AIM Rules or the DTRs or
by relevant law in the United Kingdom or the United States,
Midatech does not undertake any obligation to publicly update or
revise any forward-looking statements because of new information,
future events or otherwise arising.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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