Midatech Pharma Plc (NASDAQ: MTP) achieved significant progress in in-vitro data showing the potential of Q-Sphera to develop long-acting injectable products using the proteins.
Following this announcement, the company shares gained 29.29% in the past week and now trades at $2.64 (down 6.58%) on June 21, 2021.
Halves monthly cash burn rate
Midatech halved its monthly cash burn by shutting down the Bilbao operations. The company concentrated on MTD201, Q-Sphera octreotide, the phase III ready asset, to several shots with a single goal. It wants to establish POC (proof of concept) for each program before licensing to others for late-stage production, development, and commercialization.
The company encapsulates drugs in PDM (polymer-based bioresorbable microspheres) using 3D printing techniques.
Physicians can inject PDMs into humans to create deposits that release the drug over sustainable and predictable periods, say from one week to several months.
Midatech showed mAb (monoclonal antibody) encapsulation and ways to preserve functional integrity.
The best ten mAbs in 2020 reported sales of $74.9 billion in the US and $154 billion worldwide.
Midatech also produced and delivered POC formulations – MTX216 and MTX214 to its collaboration partners. It will commence dosing for in-vivo trials soon.
The company also created a long-acting version of brexpiprazole.
Plans to license MTD211
MTD211 showed tolerability in in-vivo studies. During the study, a single dose of the drug demonstrated delivery of brexpiprazole in three months.
Midatech markets brexpiprazole under the brand – Rexulti to cure depressive disorder and schizophrenia. It is offered in the form of an oral tablet. The company is discussing with third parties to license its MTD211.
A severe mental illness – schizophrenia affects decision making, emotions, relationships, and thinking ability. Rexulti provides early treatment and improves the ways to manage illness.
In 2020, the long-acting APP (anti-psychotic products) is $5.7 billion worldwide.
Midatech is developing MTX110 to address intractable brain cancers such as GBM (Glioblastoma Multiforme) and DIPG (Diffuse Intrinsic Pontine Glioma). The company will commence trial of the formulation by the end of this year.
In March 2020, the company terminated its MTD-201 in-house development and closed its Spain-based Midatech Pharma España SL.
Its administrative and R&D expenses are GBP 1.1 million and GBP 2.8 million in 2020.
