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MonoSol Rx and Midatech Launch MidaSol Therapeutics LP

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MonoSol Rx LLC and Midatech Ltd. have announced the launch of their strategic joint venture, MidaSol Therapeutics LP.

The launch will focus on the commercialization, via partnering or licensing, of products that have combined the IP of the companies’ respective technologies in the primary treatment of diabetes.

The companies announced recently that they are conducting a Phase I clinical study of their most advanced candidate which utilizes insulin-passivated gold glyconanoparticles (MidaForm™ insulin) formulated into PharmFilm® for buccal delivery. Results of the Phase I study are expected in the first half of 2012.

MidaSol Therapeutics non-injectable Insulin addresses the longstanding unmet need for millions of diabetics who are dependent on insulin injections by providing a more convenient, non-invasive, treatment option.

Insulin, stabilized on a nanoparticle and delivered transbuccally has the potential to offer diabetic patients a viable alternative to injectable insulin.

Pipeline products for commercialization include MidaForm™ GLP-1 formulated in PharmFilm® and a unique mixed MidaForm™ nanoparticle containing therapeutic levels of both insulin and GLP-1 on the same nanoparticle.

Midatech Ltd. and MonoSol Rx LLC will present these new MidaSol projects between Jan. 9-11, 2012 at the forthcoming JP Morgan Healthcare Conference in San Francisco.

A. Mark Schobel, President and CEO of MonoSol Rx, stated: “The MidaSol Therapeutics LP launch is designed to accelerate the commercialization of the innovative insulin, GLP-1 and insulin/GLP-1 products for the treatment of diabetes. The outstanding pre-clinical results the two companies have generated to date indicate a significant advance for the treatment of this disease.

Commenting on the joint venture, Professor Tom Rademacher, Chairman of Midatech Ltd., remarked: “The launch of MidaSol Therapeutics LP represents a significant step forward for the commercialization of MidaForm™ insulin, MidaForm™ GLP-1 and MidaForm™ insulin/GLP-1 containing formulations. We, in collaboration with partners in the pharmaceutical industry, aim to provide diabetic patients and their physicians with efficient diabetes treatments that promote compliance while improving clinical outcomes and quality of life.”