Midatech adds to collaborative business model for the Q-Sphera platform
Midatech Pharma's next generation drug delivery technologies to be applied to new modalities in collaboration with a European pharmaceutical company.
Cardiff, UK, 21 July 2020: Midatech Pharma PLC (AIM: MTPH.L; Nasdaq: MTP), a drug delivery technology company focused on improving the bio-delivery and bio-distribution of medicines announces it has entered into a research collaboration for the Q-Sphera platform with a European affiliate of a global pharmaceutical company.
Within the multi-project collaboration, Midatech will deploy its in-house expertise and proprietary drug delivery platforms towards assets nominated by the pharmaceutical company.
The feasibility studies may establish the application of the Q-Sphera platform to new modalities in drug delivery. Novel assets and products arising from the collaboration will be the property of the pharmaceutical company and in the event that the feasibility study is successful, the pharmaceutical company would be required to enter into a licence agreement to use the Q-Sphera platform.
Following announcement of the first research agreement for the Q-Sphera platform on 8 June 2020, this second Pharmaceutical collaboration further builds upon Midatech's dual business model to develop an internal portfolio of differentiated, sustained release products in parallel to enabling access to the technology by strategic collaborators to best exploit the full potential of the Q-Sphera platform, and potentially broaden its application to new therapeutic areas and modalities.
Stephen Stamp, CEO of Midatech, said:
"This collaboration with a highly reputable company further builds upon Midatech's mission to use our expertise and established capabilities to continually innovate and improve our technologies. By furthering our collaborative business model, we believe we can enable the unique qualities of this technology to reach beyond our own internal development pipeline for the benefit of all patients."
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR).