December 20, 2018 / 7:18 AM / a year ago

BRIEF-Midatech Pharma in advanced talks with strategic investor

Dec 20 (Reuters) - Midatech Pharma PLC:

* COMPANY IN ADVANCED DISCUSSIONS WITH A NEW STRATEGIC INVESTOR REGARDING A POTENTIAL SUBSTANTIAL INVESTMENT IN COMPANY AND LICENCE TO DEVELOP GROUP’S PRODUCTS IN ASIA

* COMPANY AWAITING FEEDBACK FROM FDA ON REGULATORY PATH FOR COMPANY’S LEAD PRODUCT, MTD201, FOLLOWING POSITIVE FIRST-IN-HUMAN PHASE I PROOF OF CONCEPT EXPLORATORY STUDY DATA RECEIVED IN Q3 2018

* SCHEDULED PHASE I DOSE ESCALATION COMPONENT OF MTX110 CLINICAL TRIAL IN CHILDREN WITH DIPG COMPLETED. FDA APPROVAL RECEIVED TO ADMINISTER HIGHER DOSES DUE TO GOOD TOLERABILITY

* CONTINUED RESTRUCTURING OF THE GROUP’S OPERATION TO FOCUS ON CLINICAL PROGRAMS, AND FURTHER STREAMLINE FUTURE COSTS

* POTENTIAL FOR NON-DILUTIVE FUNDING (IN THE FORM OF LOANS AND GRANTS) TO SUPPORT A SIGNIFICANT PROPORTION OF EXPECTED SCALE-UP COSTS FOR THE MANUFACTURE OF MTD201

* TRANSITION TO R&D FOCUSED STRATEGY COMPLETE, AND RECENT FAVOURABLE DATA GENERATED ON LEAD PROGRAM Source text for Eikon: Further company coverage: (Reporting By Pamela Barbaglia)

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