Midatech Group and Immunotope, Inc. Form Joint Venture, Syntara LLC, for the Development of Immune Therapies
Oxford, UK and Doylestown, PA (July 12th, 2010) - Midatech Group Ltd., a global leader for the design, development, synthesis and manufacture of nanomedicines, and Immunotope Inc, a biotechnology company focused on the development of immunotherapy products, today announced the formation of a joint venture Syntara LLC, to develop antigen based products for immune therapies to treat chronic viral infections and certain cancers.
Commenting on the formation of the joint venture, Professor Tom Rademacher, Chairman of Midatech Group said: "We are excited about the formation of Syntara. The joint venture provides a route to nurture the development of new products for the treatment of certain cancers and chronic infections."
Professor Ramila Philip, President and CSO of Immunotope added: "Syntara will be the first in class of immunotherapy companies with the capabilities of clinically relevant antigen discovery and efficient delivery, which is critical for successful immunotherapy product."
Under the terms of the agreement, Immunotope and Midatech will both license specific intellectual property to Syntara for the development of immunotherapy products. The joint venture combines Midatech's expertise and IP in the area of nanomedicine with Immunotope's experience in immunotherapeutic antigen discovery and validation.
Each company will have equal representation on the Board of Directors that will oversee the management team's responsibility for Syntara's product development operations. Syntara will be based in the US with initial capitalisation provided by the parent companies, with the intention to raise additional financing within 6-9 months.
About Midatech Group
Midatech Group Ltd, UK, is a world leader in the design, synthesis and manufacture of biocompatible nanoparticles. These nanoparticles can be used to create a wide variety of products with novel characteristics, functions and applications for a number of industry segments including life sciences, electronics and fine chemicals.
Founded in 2000, Midatech Ltd is a private company headquartered in Abingdon, Oxford, UK. In 2005 it registered its manufacturing facility - Midatech Biogune S.L. - in Bilbao, Spain, which became fully operational for cGMP standard design and manufacturing of API nanoparticles In March 2007. In 2008 Midatech Ltd further expanded with the opening of PharMida AG in Basel, Switzerland, which is responsible for clinical development of Midatech's products. Midatech's biocompatible nanoparticles possess a number of unique properties that make them ideal for diagnostic and therapeutic applications.
The nanoparticles are water soluble and can be designed to either diffuse freely in vivo, or to target specific cells. With a diameter of less than 5nm, unbound nanoparticles are freely excreted from the kidneys, reducing the likelihood of non-specific in vivo accumulation. Their size potentially enables drug delivery via different routes of administration, such as parental, transdermal, mucosal, intradermal transbuccal, sublingual or intranasal/inhalation. Their stability to enzymatic digestion may also permit oral therapy. Nanoparticles can be designed to be invisible to the host immune system with multiple ligands attached to a single nanoparticle allowing multivalent drug or multi-drug delivery on a single particle. In addition, as the nanoparticles self-assemble in a single step chemical process manufacturing is simple, safe, scaleable and low cost.
Midatech Ltd. has exclusive world-wide IP for the technology covering design, manufacture and application/use of nanoparticles in both diagnostic and therapeutic pharmaceutical areas as well as in other industries. It also has exclusive world-wide rights for technology relating to the synthesis and applications of self-assembling nanoparticles.
For further company information see www.midatechgroup.com
About Immunotope, Inc.
Immunotope is a clinical stage biotechnology company developing immunotherapy products for the treatment of cancer and chronic viral infections. Immunotope focuses on the critical, unmet need to diagnose cancer at its earliest stages and to provide effective treatments that destroy tumours and prevent recurrence and metastasis. The company's initial product, the IMT-1012 multivalent therapeutic vaccine, has completed a Phase I clinical trial at the Duke University Comprehensive Cancer Center in advanced-stage ovarian and breast cancer patients. IMT-1012 antigens are licensed by Immunovaccine Inc, Halifax, Canada and clinical trial continues as DPX-0907 in depovax formulation.
Immunotope's viral immunotherapy program is centered on vaccines for the treatment and prevention of chronic hepatitis, Dengue Virus, influenza and HIV. Immunotope is also developing autoantibody-based tests for early diagnosis of ovarian and prostate cancer. www.immunotope.com