Midatech particle technology to be used in vaccines

The AIM-listed pharmaceutical company - focused on products in oncology and other therapeutic areas - reported it had entered into an agreement with Emergex Vaccines.

Midatech said the exclusive agreement was formed around Midatech's proprietary platform, based on certain metal core glyconanoparticles, and Emergex's development and commercialisation of various vaccines to prevent and treat infextious diseases.

The company said it would be the first application of Midatech's nanoparticles within vaccines for infectious diseases.

"This licensing agreement marks another step in Midatech's ambitious growth strategy", said Midatech Pharma CEO Dr Jim Phillips.

Dr Phillips said Emergex's interest in applying Midatech's nanoparticle technology to its vaccines further validated the broad potential of its product.

"The financials of the deal underline the value of Midatech's technology platform outside the grou['s core areas of focus, and the group is comfortable that revenues will meet consensus expectations for 2015", he added.

Midatech said it would receive initial, milestone and royalty payments as part of the deal, though more specific information was not forthcoming.