Midatech secures £6.3m financing
for nanomedicine product development
17 January 2012
Oxford, UK. Nanomedicine developer Midatech Ltd has raised
£6.3 million through a private investment round to strengthen and
diversify its product development portfolio, especially in oncology.
The financing will be used to support clinical development of
chemotherapeutic gold nanoparticles designed to target ovarian, lung
and breast carcinoma and to support development of therapeutic
cancer vaccines in SynTara, a joint venture with Immunotope Inc.
The funding will also be used to expand the capacity of
Midatech’s resources to accommodate its expanding development
portfolio. In November 2011, Midatech received regulatory approval
for a first-in-human study of MidaForm insulin delivered
transbuccally. Phase I results are expected in Q1 2012.
“This funding reflects on the excellent work that Midatech has
achieved in advancing its programs through preclinical development
and targeting specific compounds for drug delivery by gold
nanoparticles”, commented Prof. Thomas Rademacher, CEO and Chairman
of Midatech, adding, “In addition to its advanced diabetes program
currently being commercialized in MidaSol Therapeutics LP, a joint
venture with MonoSol Rx, Midatech is now well funded to expand its
activities to encompass other disease indications, by initiating
several programmes in oncology.”
Midatech is a world leader in the design, synthesis and
manufacture of biocompatible nanoparticles. These nanoparticles can
be used to create a wide variety of products with novel
characteristics, functions and applications for a number of industry
segments including life sciences, electronics and fine chemicals.