19th Jul 2019 12:21
(Alliance News) - Shares in biopharmaceutical firm Midatech Pharma PLC surged Friday after it received positive results from its first-in-human study of its MTX102 diabetes vaccine candidate.
Shares in Midatech were 13% higher at 5.69 pence in London on Friday.
The phase one study of MTX102 was in order to assess the safety of the immuno-tolerising vaccine, with five patients diagnosed with type one diabetes selected.
During the trial, MTX102 was well tolerated by the patients with only local minor local injection reactions and "no serious adverse events" reported.
"This EU funded programme is an invaluable project to further develop, understand and evaluate Midatech's gold nanoparticle technology, MidaCore," Midatech Chief Executive Officer Craig Cook said.
"This is the first human study to assess the safety of MidaCore when injected into patients, and we are pleased that the data generated to date validates the technology as a potentially innovative treatment platform for medical applications", Cook added.
Related Shares:
MTPH.L