Midatech Pharma plc (NASDAQ: MTP) rose Thursday after the company disclosed breakthrough data using Q-Sphera technology.
The English-based Midatech, an R&D biotechnology company focused on improving the bio-delivery and biodistribution of medicines, announced a breakthrough in vitro data which demonstrate Q-Sphera's potential to formulate proteins into long-acting injectable products, as well as significant progress across multiple other programmes.
In the 13 months since the announcement of a Strategic Review, the Company has shut down its Bilbao operations, thereby halving its monthly cash burn rate and pivoted from a largely singular focus on one Phase III ready asset (MTD201, Q-Sphera octreotide) to 'multiple shots on goal' with an expanded pipeline of nine earlier stage programmes. The Company's strategy is to develop each programme to proof of concept before seeking licencing partners to undertake later stage development, manufacturing and commercialization.
The Company's Q-Sphera technology employs proprietary 3-D printing techniques to encapsulate drugs in polymer-based bioresorbable microspheres which may be injected to form depots in the body which release drug over predictable, sustained periods from one week to several months.
The Company believes these results could potentially open up very significant opportunities for its Q-Sphera technology. A significant number of latest generation medicines are protein based and reformulation as long-acting injectables could provide significant benefits to patients, physicians and payors. In 2020, the top 10 mAbs recorded aggregate sales of $74.9 billion U.S. and all mAbs $154 billion U.S. globally.
MTP shares rocketed $1.08, or 52.9%, to $3.12.
