Midatech Pharma receives upfront access fee

International speciality pharmaceutical company Midatech Pharma said it has received an upfront technology access fee and option payment of £450,000.

This was under the terms of the exclusive licence granted to Emergex Vaccines Ltd.

This licence covered the use of Midatech's proprietary gold nanoparticle platform in the development of vaccines for influenza, meningitis, bacterial pneumonia, Ebola virus, Marburg virus and viruses within the Arbovirus class such Zika and Dengue.

"This is the first deployment of Midatech's gold nanoparticles as a conventional vaccine for infectious disease," the company said.

Midatech said it would continue to be entitled to receive certain milestone and royalty payments, as well as service fees, as part of the arrangement.

At about 11:35 GMT, shares in AIM-quoted Midatech were down 1.2% to 123.5p.