LONDON (ShareCast) - (ShareCast News) - AIM-listed Midatech Pharma has signed a global licensing agreement with Novartis for the oncology compound panobinostat.
The compound will be developed by Midatech for the treatment of childhood brain cancer, diffuse intrinsic pontine glioma tumour (DIPG) - for which there are currently no approved or effective therapies - as a continuation of its MTX110 programme.

In pre-clinical test models, panobinostat demonstrated very high potency against DIPG tumour cell lines. In one such study, it was the most effective of more than 80 anti-cancer agents tested.

Using a technique called convection enhanced delivery, MTX110 is infused directly into the brain tumour and diffuses through and around it. This technique allows for elevated drug concentrations to be delivered to the tumour, while at the same time minimising systemic toxicity and peripheral side-effects. It has been used to treat five patients to date in the USA and UK under its compassionate use programme and so far has been well tolerated. Cl inical studies in patients are planned to begin this year.

Chief executive officer Jim Phillips said: "In line with our strategy to focus on oncology and expand our product mix, we are pleased that Novartis recognises our unique capability to use their product panobinostat alongside our technology to treat orphan cancers. We look forward to driving it through development for treatment of DIPG, and make a real difference to the children suffering from this devastating and terminal disease."

At 1050 BST, Midatech shares were up 4.4% to 107.50p.

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