Midatech Pharma PLC AGM Statement and Update on Trading (8557X)
May 11 2016 - 2:00AM
UK Regulatory
TIDMMTPH
RNS Number : 8557X
Midatech Pharma PLC
11 May 2016
Midatech Pharma PLC
("Midatech" or the "Company")
AGM Statement and Update on Trading
Midatech Pharma (AIM: MTPH; Nasdaq: MTP), the international
specialty pharmaceutical company focused on commercialising and
developing products in oncology and other therapeutic areas, today
will host its Annual General Meeting at Panmure Gordon & Co,
One New Change, London, EC4M 9AF at 9:30am BST. Commenting on the
Company's performance in 2016, Midatech's Chairman, Rolf Stahel,
will make the following statement:
"Midatech is pleased with the progress made in all aspects of
its business in the first four months of 2016. The key product
candidates in our clinical pipeline have each seen favourable
results that support further development. Our recently acquired US
commercial arm has been successfully integrated within Midatech and
its recent product launch of Zuplenz(TM) continues to make good
progress. In the first four months of 2016 we have seen strong
revenues from our marketed products and as a result the Group is
trading slightly ahead of consensus market expectations.
"Midatech is rapidly assembling the strong foundations for an
outstanding specialty pharma company. The Company now has a robust
revenue-generating US commercial operation marketing a growing
portfolio of oncology supportive care products that complement an
exciting high-value, niche product pipeline that leverages
Midatech's proprietary drug delivery platform technology. One such
example of a product using Midatech's nanoparticle drug delivery
technology is its drug candidate targeting a rare form of brain
cancer called Diffuse Intrinsic Pontine Glioma (DIPG). DIPG has a
dismal prognosis where alternatives are few and Midatech, in
remarkable time, has been able to supply drug to children via a
compassionate use programme for one of the most resistant of all
cancers to standard chemotherapy treatments.
"The highly driven management team and the Board of Directors
looks forward to building upon this success throughout the course
of 2016."
- ENDS -
For more information, please contact:
Midatech Pharma PLC
Jim Phillips, CEO
Tel: +44 (0)1235 841575
www.midatechpharma.com
Panmure Gordon (UK) Limited (Nominated Adviser and Broker)
Corporate Finance
Freddy Crossley / Atholl Tweedie / Duncan Monteith
Corporate Broking
Tom Salvesen
Tel: +44 (0)20 7886 2500
RBC Europe Limited (Joint Broker)
Paul Tomasic / Rupert Walford / Thomas Stockman / Laura
White
Tel: +44 (0)207 653 4000
Consilium Strategic Communications (Financial PR)
Mary Jane Elliott / Ivar Milligan / Matthew Neal / Hendrik
Thys
Tel: +44 (0)20 3709 5700
Email: midatech@consilium-comms.com
Westwicke Partners (US Investor Relations)
Chris Brinzey
Tel: +1 339 970 2843
Email: chris.brinzey@westwicke.com
Notes for Editors
About Midatech Pharma PLC
Midatech is an international specialty pharmaceutical company
focused on oncology and other therapeutic areas with a commercial
platform and four marketed products in the US. Midatech's strategy
is to develop products in-house in oncology and with partners in
other indications, and to accelerate growth organically and through
strategic acquisitions. The Company's R&D activities are
supported by two breakthrough drug delivery technologies. The
Group, listed on AIM: MTPH and Nasdaq: MTP, employs c.100 staff in
four countries. For further company information see:
www.midatechpharma.com
Forward-Looking Statement
Certain statements in this press release may constitute
"forward-looking statements" within the meaning of legislation in
the United Kingdom and/or United States. Such forward-looking
statements include, but are not limited to, statements regarding
the anticipated sales of Zuplenz(R) and other products in the
United States, the ability of Midatech to successfully test,
manufacture, produce or commercialize products for DIPG or other
conditions using the nanoparticle drug delivery platform, and the
ability for products in development to achieve positive clinical
results. Any forward-looking statements are based on currently
available competitive, financial and economic data together with
management's views and assumptions regarding future events and
business performance as of the time the statements are made and are
subject to risks and uncertainties. We wish to caution you that
there are some known and unknown factors that could cause actual
results to differ materially from any future results, performance
or achievements expressed or implied by such forward-looking
statements.
Reference should be made to those documents that Midatech shall
file from time to time or announcements that may be made by
Midatech in accordance with the London Stock Exchange AIM Rules for
Companies ("AIM Rules"), the Disclosure and Transparency Rules
("DTRs") and the rules and regulations promulgated by the US
Securities and Exchange Commission, which contains and identifies
other important factors that could cause actual results to differ
materially from those contained in any projections or
forward-looking statements. These forward-looking statements speak
only as of the date of this announcement. All subsequent written
and oral forward-looking statements by or concerning Midatech are
expressly qualified in their entirety by the cautionary statements
above. Except as may be required under the AIM Rules or the DTRs or
by relevant law in the United Kingdom or the United States,
Midatech does not undertake any obligation to publicly update or
revise any forward-looking statements because of new information,
future events or otherwise arising.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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