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Midatech Pharma
Corporate Overview
July 2020
Disclaimer
The following presentation, including a hard copy of these slides/the talks given by the presenters, the information communicated during any delivery of the presentation and any question and answer session and anydocument or material distributed at or in connection with the presentation (together, the “Presentation”), has been prepared by Midatech Pharma PLC (the “Company”) in connection with a proposed offering of securities ofthe Company (the “Offering”). The information in the Presentation is not intended to form the basis of any contract.
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MIDATECH PHARMA CORPORATE OVERVIEW 2
MIDATECH PHARMA CORPORATE OVERVIEW 3
Improving the Biodelivery and Biodistribution of Medicines
Drug delivery biotechnology company with disruptive proprietary micro and nano technology platforms
Rapid R&D innovation core to success, delivering First-in-Class sustained/ modified release therapeutics
Dual-listed on LSE AIM: MTPH and NASDAQ: MTP
Headquarters, R&D, non-GMP pilot scale manufacturing in Cardiff, UK
Approximately 20 employees
Corporate Overview
MidaSolve™
MidaCore™Q-Sphera™
MIDATECH PHARMA CORPORATE OVERVIEW 4
2000
Establishment
• Company formed, acquired GNP
technology from CSIC, Madrid
2014
IPO
• IPO on AIM market, London
• Acquired Q-Chip, Q-Sphera
technology
Public Listing
• Listing on NASDAQ
• Acquired DARA Biosciences,
renamed MPUS
2018
2019
Growth
• Sale of MPUS
• MTD201 ‘101 trial reports
Growth
• MTX110 receives orphan status
2020
Realignment
• MTD201 ‘102 trial reports
• Strategic Review
2015
Midatech History and Milestones
Technology
that improves bio-delivery
& bio-distribution on several levels:
MIDATECH PHARMA CORPORATE OVERVIEW 5
Targeted Delivery
• Ultra-small size
• Can bind multiple
agents: Targeting,
Therapeutic
Local Delivery
• Converts oral meds into
liquid meds
• Increases routes of
administration
• Enables direct tumor
injection
Sustained Delivery
• Precision Clinical
performance
• Advanced technology
manufacturing
• Distinct competitive
advantage
Q-Sphera™ MidaSolve™ MidaCore™
• Optimizing clinical solutions
• Improving health economics
• Ongoing clinical programmes
• Reducing production cost
• Opportunities to extend life
cycles of maturing drugs
Industry Leading Technology
MIDATECH PHARMA CORPORATE OVERVIEW 6
Q-Sphera™
Next Generation Microsphere Technology for
Sustained Release Applications
Next Generation Microsphere Technology
MIDATECH PHARMA CORPORATE OVERVIEW 7
Sustained Release Polymer microsphere
Precision particle sizePredictable release kinetics
(from 1 to 6 months)
Technology
•Micro-encapsulation PLGA polymer depot system
•Advanced piezo printing technology
•Several million microspheres produced per second
Clinical
•Extended dosing intervals from days/hours to months
• Improved usability, patient experience & compliance
•Enhanced dosing and administration routes
Production
•Scalable, efficient high yield manufacturing
•Modest infrastructure, environmentally friendly
•Low CoGS and broad API compatibility
Q-SpheraTM
• Adapted for microsphere manufacture with
controlled solvent exchange
• Piezoelectric droplet ejection from MicroDrop
dispenser head with internal diameter 30/70 μm
• Droplet ejection frequency 6 kHz enabling
laboratory scale production of 10-250 mg mass of
dried, solid microparticles
• Scale-up manufacturing blueprint established
MIDATECH PHARMA CORPORATE OVERVIEW 8
3D Pharmaceutical Printing Process:
Unique 3D Microsphere Printing
Q-SpheraTM
MicroDrop Diagram
Proteins, MAbs, FAbs, evaluated on case by case basis
Typically a maximum drug loading (drug:polymer) ~ 25% w/w
Vastly superior homogeneity vs traditional PLGA manufacturing
Small molecule to large peptide – experience up to 50aa
APIs
MIDATECH PHARMA CORPORATE OVERVIEW 9
Mean 26.3 54.8
St. Dev 2.4 12.1
% CV 9.2 22.0
Dimensions/Variability
Q-Sphera™ Sandostatin® LAR
Flexible, Monodispersed Formulation Capabilities
Looking at the ScienceQ-SpheraTM
MIDATECH PHARMA CORPORATE OVERVIEW 10
Pharmacokinetics Favourable Release Kinetics and Less Variability
Needle Size Smaller and Less Painful
• Small 21G needle for MTD201, whereas SLAR uses
19G needle – 40% smaller surface area
• Lower injection pain (8% vs. 25%) and lower injection
site tenderness (8% vs 83%) (MTD201-101)
Reconstitution Time Quicker; and Stability Longer
• MTD201 Reconstitution from opening pack to injection in
under 10 minutes, stable for 2 hrs
• SLAR reconstitution around 40 minutes by the published
method, must be used immediately
Administration Similar plasma octreotide SC and IM injection
MTD201 Compelling Advantages
Q-SpheraTM
MIDATECH PHARMA CORPORATE OVERVIEW 11
Significant clinical and commercial opportunity for longer acting mAbs/proteins
Unique Possibility of Creating Long Acting proteins / mAbs
Emulsion-based manufacture:
Q Sphera™ manufactured microspheres:
• Localisation of encapsulated protein within unavoidable voids; polymer hydrolysis induces acidic
environment and loss of activity of protein/mAb
• Microsphere production process exposes protein to substantial surface area of liquid-liquid
(water or solvent) interfaces, high shear and heat, all of which contribute to API degradation
• Surfactants and solvents used are toxic to proteins
• Homogeneous structure and no voids allows even API distribution
• Open polymer microstructure permits easy fluid ingress and egress
• No surfactants, toxic solvents, biphasic mixtures, shear or heat forces
• Enables the preservation of therapeutic activity beyond processing
Q-SpheraTM
MIDATECH PHARMA CORPORATE OVERVIEW 12
MidaSolve™
Solubilising Insoluble Drugs For Direct-to-Tumour
Administration
MIDATECH PHARMA CORPORATE OVERVIEW 13
Local Delivery Nano inclusion
Solubilises otherwise insoluble drugsIncreases routes of administration direct
to tumour administration
Technology
•Solubilises inherently insoluble drugs
•Nano inclusion technology for chemotherapeutics
•Complex of hydrophobic core and hydrophilic surface
Clinical
•Converts oral drugs into liquid administration forms
•Enables infusion directly into the tumour
•Aim to enhance efficacy and reduce toxicity
Production
•Simple manufacturing process
•No solvents, non-toxic
•Lyophilized powder, long shelf-life
Solubilizing Insoluble DrugsMidaSolveTM
MIDATECH PHARMA CORPORATE OVERVIEW 14
Childhood tumour market size $0.5bn;
Adult GBM market size $3bn - $5bn
No effective
treatments (more
than 200 clinical
trials), drugs cannot
cross blood-brain
barrier.
• Median survival of children with DIPG is 9 months and remains
unchanged despite decades of clinical research.
• $100 million market opportunity
• Medullobastoma (similar epidemiology) is initially treated with surgery
and radiation or chemotherapy, with no standard of care for recurrent
disease.
MTX110: Market Opportunity in Childhood Brian CancersMidaSolveTM
TreatmentGlioblastoma (GBM)Diffuse Intrinsic Pontine Glioma (DIPG)
• Worldwide there are 1,000 patients suffering from DIPG
ultra-orphan disease, a highly infiltrative brainstem high
grade glioma.
MIDATECH PHARMA CORPORATE OVERVIEW 15
1Q20 2Q20 3Q20 4Q20 1H21 2H21 1H22 2H22
DIPG Tolerability UCSF
Medulloblastoma
Exploratory
University
of Texas
DIPG Exploratory Columbia
DIPG Efficacy Zurich
Other eg GBM N/A
Phase I
Phase I
Phase I
Phase II
Pre-Clinical
MTX110: Clinical Programme, Multiple PossibilitiesMidaSolveTM
Competitive Advantage in Establishing a New Treatment Paradigm
• MTX110 received orphan status in the US in 2019
• Combined Phase I / II study underway with children
suffering from DIPG and medulloblastoma
• Panobinostat demonstrated pre-clinically as a most potent
agent against human DIPG cells
• Increases available routes of administration via liquid form
MIDATECH PHARMA CORPORATE OVERVIEW 16
MidaCore™
Working at the Nanoscale
MIDATECH PHARMA CORPORATE OVERVIEW 17
Targeted deliveryGold nanoparticle
Ultra-small sizeCan bind multiple agents
(targeting and therapeutic)
Technology
•Gold nanotechnology to deliver chemo / immuno therapeutics
•Key attributes are small size and multi-functional valency
•Decorated with therapeutic + targeting moieties
Clinical
•Size 2-4nm improves delivery, targeting, reduces toxicity
•Enhanced uptake into cancer cells and cells of the immune system controlling responses to disease
•Research programmes in psoriasis and solid tumours
Production
•Bio-inert and non-toxic
Working At The NanoscaleMidaCoreTM
18|
• Skin thickening significantly reduced with MTX-GNP – significantly greater effect than Daivobet
(calcipotriol/betamethasone dipropionate)
• Confirmed imiquimod-induced psoriasis mouse model results
MTX114: GNP Normalises Skin In Xenotransplant Mouse ModelMidaCoreTM
Daivobet(standard of care) MTX-GNPVaseline
MIDATECH PHARMA CORPORATE OVERVIEW 19
Strategy: Partnerships to Create Value
• Licensing of pipeline products
• Technology partnerships
MIDATECH PHARMA CORPORATE OVERVIEW 20
Business Development: Dual Strategy for Success
Develop in-house enhanced formulations of existing APIs in orphan/specialty
indications to create valueStrategy 1:
Strategy 2: Fee-for-service, third party proprietary APIs
Partner underwrites clinical programme / scale-up.
Midatech receives milestones / royalties.
API Selection
FormulationAnalytics/characteri
zationIn virto
dissolution
Optimization/Manufacture
PoCIn vivo
Partnering/tech transfer
---1 month --- ------------------------------------------------ 3 months ----------------------------------------------- -- 3 months --
MIDATECH PHARMA CORPORATE OVERVIEW 21
2019 (£m) 2018 (£m)
Revenue 0.7 1.9
R&D (7.8) (9.4)
Distribution (0.3) -
Administrative (3.8) (4.4)
Loss from operations 11.3 11.8
Loss before tax 10.9 12.4
Cash at 31 December 10.9 2.3
• Revenues approx. 50% grant, 50% fees
• R&D includes:
• £4.3m MTD201
• £1.5m MTX110; and
• Full year of Bilbao costs
• Administrative includes:
• £1.6m personnel costs
• £1.3m professional fees
• Cash on hand offset by £4.9m soft loans
• Current cash runway through to 2Q21
Financial – Year Ended 31 December 2019
MIDATECH PHARMA CORPORATE OVERVIEW 22
Multiple applications:
Robust IP portfolio:
Licensing strategy:
Modest cash burn:
Summary
Improving bio-delivery and bio-availability of approved and unapproved drugs
All technologies into humans, Lead programs in clinic, technologies validated, defined development paths
First-in-class SR applications, marketed and development compounds, all therapeutic areas
Clinically validated technology:
Superior drug delivery platforms:
36 patent families with 107 issued patents covering core technology platforms
Feasibility to pre-clinical in-house; partner before clinical
£0.4m per month, cash runway to 2Q21
Thank You.
MIDATECH PHARMA CORPORATE OVERVIEW 23