The programme is focused on advanced liver cancer where current chemotherapeutic treatment options are limited and the typical survival period is six months.
Midatech is pursuing improved forms of cancer therapy based on combining marketed chemotherapeutic medicines with tumour-targeting molecules or peptides on the same nanoparticle-based conjugate.
The aim is to allow highly toxic drugs to be specifically targeted to and delivered at the tumour cells while sparing normal tissue, thereby reducing side effects and enhancing efficacy.
Commenting on this candidate selection, Midatech Pharma CEO Jim Phillips said: "In-line with the internal development strategy as announced in conjunction with the Company's recent fundraise, candidate selection of MTR104 follows a comprehensive research and development programme that included very encouraging targeting and tumour reduction data in the preclinical setting, and we are looking forward to progressing MTR104 through development into the clinic as we hope to make a difference for patients suffering from this severe disease."