Midatech Pharma has complete DARA BioSciences, Inc.
Midatech Pharma, the specialty pharmaceutical company focused on the development and commercialisation of multiple therapeutic products, today announces the successful completion of its acquisition of DARA BioSciences, Inc, an oncology supportive care pharmaceutical company, further to the announcements on 4 June 2015 and 3 December 2015. As previously disclosed, the merger was approved by DARA's stockholders on 2 December 2015.
Midatech's American Depositary Receipts are expected to begin publicly trading on the NASDAQ Capital Market under the symbol "MTP" on 7 December 2015
About Midatech Pharma PLC
Midatech is a nanomedicine company focused on the development and commercialisation of multiple therapeutic products, using its nanomedicine and sustained release technologies, to enhance the delivery of medicines in major diseases with high unmet medical need. These diseases include diabetes, certain cancers, such as liver, ovarian and brain (glioblastoma) and neurological/ophthalmologic conditions.
Midatech's strategy is to develop its products in-house in rare cancers and with partners in other indications, and to accelerate growth of its business through strategic acquisition of complementary products and technologies.
All of Midatech's product candidates derive from its two multi-applicable platform technologies that can be used alone or in combination to enable the targeted delivery ('right place') and sustained release ('right time') of existing drugs.
Midatech's core technology platform is a drug conjugate delivery system based on a patented form of gold nanoparticles (GNP) that are developed to improve key parameters of existing and new drugs for the safe and targeted release of therapeutic payloads at specific organs, cells or sites of disease.
Midatech's secondary platform of sustained release technology (acquired through its acquisition of Q Chip Limited in 2014) involves the consistent and precise encapsulation of active drug compounds within polymer microspheres enabling their release into the body in a highly controlled manner over a prolonged period of time.
Midatech is headquartered near Oxford, UK, with a nanoparticle manufacturing operation in Bilbao, Spain and an R&D facility in Cardiff, UK.