LONDON (Alliance News) - Midatech Pharma PLC said Thursday morning that the first patient in its phase IIa study of its insulin buccal soluble film product MSL-001 for type 1 diabetes has been treated.
The study is seeking to establish the safety and tolerability of MSL-001 compared to subcutaneous administered human recombinant insulin, and to establish a pharmacodynamic and pharmacokinetic profile of MSL-001.
MSL-001 is in development with Midatech's joint venture partner MonoSol Rx LLC.
"Diabetes incidence is forecast to hit 500m people, globally, by 2025; with our partnered transbuccal insulin strip, MSL-001 is targeting a $20 billion market, adding significant revenue potential to our growing portfolio of products," said Chief Executive Officer of Midatech Jim Phillips in a statement.
Shares in Midatech are up 0.9% at 283.61 pence Thursday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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