TPI provides its latest research note on Midatech Pharma plc (MTPH.L).

Midatech has today announced encouraging headline results from a Phase I study at the University of California, San Francisco (‘UCSF’) in patients with the orphan condition, Diffuse Intrinsic Pontine Glioma (‘DIPG’) (the ‘UCSF study’ NCT03566199).

Having demonstrated that repeated delivery of MTX110 via micro-catheter using convection-enhanced delivery (‘CED’) is feasible and safe, improved overall patient survival data has determined a proposed dose range for adoption in a Phase II study to assess safety and efficacy that could potentially commence within a few months.

Although somewhat complicated by Secura Bio Inc.’s purported termination of its panobinostat licence agreement the patent’s now relatively limited life appears unlikely to significantly hinder prospective commercialisation. The valuation of £65.7m* that TPI awarded to Midatech in an assessment published on 10 September 2020 has the potential to be upgraded.

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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 © 2019 Turner Pope Investments (TPI) Limited, all rights reserved.

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