Midatech Completes Acquisition Zuplenz From Galena Biopharma, Notes Potential $4.6 Billion Market

Midatech Pharma PLC (NASDAQ: MTP), a small-cap nano-medicine company, announced on Wednesday it has completed the acquisition of Zuplenz from Galena Biopharma Inc (NASDAQ: 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.