(MTPH) Midatech Pharma - Planned dose-escalation commences in rGBM study
Midatech is a drug-delivery specialist focused on re-engineering therapeutics through its technology platforms (MidaSolve, local drug-delivery; Q-Sphera, sustained-release; MidaCore, targeted delivery) to improve biodistribution and delivery.

Midatech has announced that following the completion of one month of treatment for the first patient enrolled in the MAGIC-G1 study (at a dose of 60uM), the Data Safety Monitoring Board (DSMB) has recommended dose escalation to 90uM (expected to be the target therapeutic dose for MTX110). MAGIC-G1 is an open-label, Phase I study designed to evaluate the feasibility and safety of MTX110 in recurrent glioblastoma (rGBM) using a convection-enhanced delivery (CED) system. However, we note that continued progression of this study will be contingent on the successful conclusion of the announced Bioasis deal and US$9.6m fund-raising, both of which require shareholder authorisation. Approval and completion of these is critical path for Midatech. The company states that it has a cash balance of £2.6m (as of 5 January 2023), which is only sufficient to fund operations to mid-March 2023.

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