Nanomedicine manufacturer MidaTech has secured £6.3 million through a private investment round to strengthen their product development portfolio.
The Abingdon-based company – which design, synthesise and manufacture biocompatible nanoparticles – will use the funding to support clinical development of chemotherapeutic gold nanoparticles designed to target ovarian, lung and breast carcinoma.
It will also be used to support development of therapeutic cancer vaccines in SynTara – a joint venture with Immunotope – and to expand the company’s resources to accommodate its expanding portfolio.
“This funding reflects on the excellent work that MidaTech has achieved in advancing its programs through preclinical development and targeting specific compounds for drug delivery by gold nanoparticles,” said Professor Thomas Rademacher, CEO and chairman of MidaTech.
“In addition to its advanced diabetes program currently being commercialised in MidaSol Therapeutics, a joint venture with MonoSol Rx, Midatech is now well funded to expand its activities to encompass other disease indications, by initiating several programmes in oncology.”
MidaTech’s nanoparticles – which are as small as 5nm in diameter – are water soluble and can be designed to diffuse freely in vivo or to target specific cells. They have used in the life sciences, electronic and fine chemicals industry.