Midatech Pharma PLC Midatech signs global agreement for panobinostat (3498H)
June 07 2017 - 1:01AM
UK Regulatory
TIDMMTPH
RNS Number : 3498H
Midatech Pharma PLC
07 June 2017
7 June 2017
Midatech Pharma PLC
("Midatech", "Company" or "Group")
Midatech signs global license agreement to investigate
panobinostat for treatment of brain cancers
Midatech Pharma (AIM: MTPH; Nasdaq: MTP), the international
specialty pharmaceutical company focused on commercialising and
developing products in oncology, today announces that it has signed
a global licensing agreement with Novartis for the oncology
compound panobinostat. Panobinostat will be developed by Midatech
for the treatment of Diffuse Intrinsic Pontine Glioma (DIPG) as a
continuation of its existing MTX110 program, and potentially for
Glioblastoma (GBM).
In pre-clinical test models, panobinostat, which is a pan-HDAC
inhibitor, demonstrated very high potency against DIPG tumour cell
lines. In one such study panobinostat was the most effective of
more than 80 anti-cancer agents tested.
Midatech's MTX110 program is focused on the treatment of DIPG, a
childhood brain cancer that is nearly always fatal, with a median
survival of approximately 9 months. Using a technique called
Convection Enhanced Delivery, MTX110 is infused directly into the
brain tumour, and diffuses through and around it. This technique
allows for elevated drug concentrations to be delivered to the
tumour, while at the same time minimizing systemic toxicity and
peripheral side-effects. MTX110 has been used to treat 5 patients
to date in the USA and UK under its compassionate use program. In
these patients MTX110 has been well tolerated thus far. We believe
it holds promise as a potential therapeutic treatment for DIPG, for
which there are currently no approved or effective therapies.
Clinical studies in patients are planned to commence during 2017.
Financial terms have not been disclosed.
Jim Phillips, CEO of Midatech Pharma, said: "In line with our
strategy to focus on oncology and expand our product mix, we are
pleased that Novartis recognises our unique capability to use their
product panobinostat alongside our technology to treat orphan
cancers. We look forward to driving it through development for
treatment of DIPG, and make a real difference to the children
suffering from this devastating and terminal disease."
- 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 and other therapeutic areas 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
in other therapy areas, 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
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGRZMGGVMVZGNZZ
(END) Dow Jones Newswires
June 07, 2017 02:00 ET (06:00 GMT)
Midatech Pharma (LSE:MTPH)
Historical Stock Chart
From Apr 2024 to May 2024
Midatech Pharma (LSE:MTPH)
Historical Stock Chart
From May 2023 to May 2024