Midatech forms new nanotech subsidiary

UK-based Midatech Group, a world leader in the design, synthesis and manufacture of biocompatible nanoparticles, has formed a drug development subsidiary, PharMida, based in Basel, Switzerland, following an investment by a group of Swiss-based private investors.

The mandate of PharMida is to develop a strong portfolio of clinically validated gold nanoparticle-drug combinations. Furthermore, PharMida will have the responsibility to project manage in-house drug development, commercial partnerships and out-licensing opportunities to leverage the already existing and most promising Midatech products or product lines in life sciences.

PharMida will be headed by Professor Fritz R. Buhler as chairman, and Dr Jan Mous as ceo. Buhler is Professor of Pharmaceutical Medicine and Pathophysiology as well as of Internal Medicine and Cardiology at the Faculty of Medicine, Universities of Basel. He has a wealth of experience in pharmaceutical development having held a number of senior positions in academia and industry, including Head of Worldwide Clinical R&D at F. Hoffman-La Roche, Director of the European Centre of Pharmaceutical Medicine and co-founder of International Biomedicine Management Partners, Basel, and Health Innoventures, New York.

Mous has a strong background in research and development, and many years" experience at senior level in a number of biotech companies. Most recently he was president and ceo of IntegraGen, and prior to that he held the position of cso and was member of the Executive Board of LION bioscience.

"This is an extremely important step in the development of Midatech and its nanoparticle technology," said Professor Thomas Rademacher, founder and chairman of Midatech Group. "I am looking forward to working with Professor Buhler and Dr Mous to develop Midatech's innovative nanoparticle technology to its full potential."