Yesterday afternoon Midatech announced receipt of a purported legal termination of its MTX110 Licence Agreement between Secura Bio Inc. (SecuraBio’) and its subsidiary, Midatech Limited. Midatech considers this to be wholly incorrect and entirely without merit.
Indeed, Midatech presently has three ongoing clinical trials of MTX110 in accordance with this Agreement and has specifically stated its plans to use the proceeds of the £4.3 million fundraising announced on 18 May 2020 to continue to fund its clinical programme in diffuse intrinsic pontine glioma (‘DIPG’).
In response, the Group has invited Secura Bio to immediately withdraw its unsupported letter and indicated that it will vigorously pursue any and all remedies available to it, including claims for monetary damages based on and resulting from its action.
We would draw your attention to the various disclaimers in the document both at the beginning and at the end of the note. Retail clients (as defined by the rules of the FCA) must not rely on the research document. In particular you should note that the research document is a non-independent marketing communication. The analyst who has prepared the research is aware that TPI provides research to Midatech Pharma plc. Accordingly the research has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibitions on dealing ahead of its dissemination.
The information in the document is published solely for information purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. The material contained in the document is general information intended for recipients who understand the risks associated with equity investment in smaller companies. It does not constitute a personal recommendation as defined by the FCA or take into account the particular investment objectives, financial situation or needs of individual investors nor provide any indication as to whether an investment, a course of action or the associated risks are suitable for the recipient.
Copyright © 2020 Turner Pope Investments (TPI) Limited, all rights reserved.
