MTPH8 Jan 2021 14:17
Emergex Vaccines Provides an Update on Agreement with Midatech Pharma
22nd November 2016/
Oxford, UK, 22 November 2016 – Emergex Vaccines Holding Limited (“Emergex”), a biotechnology company pioneering a new approach to T-cell vaccine development in the field of infectious diseases, today announced that it has paid an upfront technology access fee and option payment of £450,000 to Midatech Pharma (AIM: MTPH, NASDAQ: MTP), under the terms of the contract. This follows the licence granted to Emergex from Midatech Pharma, which was announced in January this year.
The exclusive licensing agreement covers the use of Midatech’s proprietary gold nanoparticle platform in the development of vaccines for influenza, meningitis, bacterial pneumonia, Ebola virus, Marburg virus and viruses within the Arbovirus class, such as Zika and Dengue. This is the first deployment of Midatech’s gold nanoparticles as a conventional vaccine for infectious diseases.
Under the agreement, the licence, together with the Service and Manufacturing Agreement for both the synthesis and development manufacturing of cGMP material for clinical trials, was novated from Emergex Vaccines Limited to a related entity, Emergex Vaccines Holding Limited (“Emergex”), a private UK biotechnology company focused on developing synthetic T-cell vaccines against new and emerging infectious diseases.
Midatech will continue to be entitled to receive certain milestone and royalty payments, as well as service fees, as part of the arrangement