Midatech Pharma PLC MTP, a small-cap nano-medicine company, announced on Wednesday it has completed the acquisition of Zuplenz from Galena Biopharma Inc GALE.
Midatech will pay Galena Biopharma $3.75 million upfront with milestone payments of up to $26 million depending on Zuplenz's success.
Zuplenz is an oral soluable film for the treatment for the side effects of chemotherapy. Midatech noted the potential market size for the treatment is $4.6 billion by 2018.
Shares of Midatech were showing no trades early Wednesday morning, but the company's London-listed equity was trading higher by more than 11 percent.
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