Edison Investment Research - Midatech Pharma (MTPH) Midatech Pharma - Announced acquisition to expand portfolio

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Edison Investment Research

Sean Conroy

Midatech Pharma - Announced acquisition to expand portfolio

Midatech announced an all-stock acquisition of Bioasis Technologies (a Canada-based biopharmaceutical company) by issuing 75,884,553 new shares at an exchange ratio 0.9556 per Bioasis share. This translated to a deal value of c C$7.4m (c £4.4m) at the time of the announcement (at c 5.8p per Midatech share) but is subject to change based on share price movements. The proposed acquisition is expected to close in Q123, contingent on regulatory and shareholder approval. In parallel, Midatech announced a two-stage equity raise worth US$10.0m (£8.2m), which will be utilised to support working capital requirements of the combined business and partially pay Bioasis’s outstanding debt. Following the acquisition, Midatech now intends to maintain a dual listing (AIM and NASDAQ).

21/12/2022 1 EN

Underlying

Midatech Pharma

Midatech Pharma is a holding company. Through its subsidiaries, Co. is engaged as a specialty pharmaceutical company focused on the development and commercialization of multiple therapeutic products, using its nanomedicine and sustained release technologies, to enhance the delivery of medicines in major diseases with high unmet medical needs. These diseases include diabetes, certain cancers such as liver, ovarian and brain (glioblastoma) and neurological/ophthalmologic conditions. Co.'s two platform technologies are designed to enable targeted delivery and sustained release of existing therapeutic drugs to the "right place" at the "right time."

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GB00BKT14T00 London Stock Exchange United Kingdom

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Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Sean Conroy

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Midatech Pharma - Announced acquisition to expand portfolio

Biodexa Pharmaceuticals - Pivoting out of a challenging FY22

Midatech Pharma - Development pipeline expands with MTD217

Hybridan Small Cap Feast 08/03/22

Manx Financial Group - Termination of coverage

musicMagpie - Termination of coverage

Topps Tiles - Accelerating growth through Q125

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