Midatech yesterday published a business update which included a number of elements of positive news. These included:
• An expansion of its Q-Sphera™ collaboration with a global healthcare partner from one active pharmaceutical ingredient (‘API’) to three;
• Formulations have been optimised for the Group’s first two internal Q-Sphera™ products with one already undergoing in vivo studies and the other about to start;
• A restructuring of its MTX110 clinical development plan to include a Phase I pilot study in glioblastoma multiforme (‘GBM’) (a market opportunity Midatech considers to be 30 to 50 times the size of its existing DIPG study) for no additional cost, making the programme considerably more attractive to potential partners;
• Efficient closure of the Group’s operations in Spain without shortening its cash runway; and
• Working capital into Q4 2021 in the absence of licensing milestones.
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