Midatech Pharma (NASDAQ:MTP) news for Tuesday concerning a deal involving the Q-Sphera platform has MTP stock taking off.
The news comes from a regulatory filing made by Midatech Pharma. In the filing, the pharmaceutical company says that it will be taking part in a research collaboration on the Q-Sphera with a European affiliate of the global company.
Midatech Pharma notes that this deal will have it making use of its “in-house expertise and proprietary drug delivery platforms” to assist Q-Sphera with assets of its choosing. This could result in new modalities of drug delivery.
According to the Midatech Pharma filing, results from the collaboration will belong to the pharmaceutical company. However, it will require it to enter into a licence agreement to make use of the Q-Sphera platform.
Stephen Stamp, CEO of Midatech Pharma, said this about the news.
“This collaboration with a highly reputable company further builds upon Midatech’s mission to use our expertise and established capabilities to continually innovate and improve our technologies. By furthering our collaborative business model, we believe we can enable the unique qualities of this technology to reach beyond our own internal development pipeline for the benefit of all patients.”
This marks the second collaboration agreement that Midatech Pharma has made for use of the Q-Sphera platform. The first agreement was made earlier this month.
MTP stock was up 154.1% as of Tuesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.