April 2021 Midatech Pharma PLC ("Midatech" or the "Company" or, together with its subsidiaries, the "Group") Preliminary Results for the Year Ended 31 December 2020 Midatech Pharma PLC (AIM: MTPH.L; Nasdaq: MTP), a drug

or the "Company" or, together with its subsidiaries, the "Group")

for the Year Ended 31 December 2020

PLC (AIM: MTPH.L; Nasdaq: MTP), a drug delivery technology company focused on improving the bio-delivery and biodistribution of medicines,

announces its audited preliminary results for the year ended 31 December 2020.

Following the announcement

of a Strategic Review in March 2020 and the termination of further in-house development of MTD201, the Company has broadened its R&D

pipeline through technology collaborations with third party pharmaceutical companies, the initiation of new internal programmes and adding

new indications to MTX110.

realigned strategy is to advance its development programmes to proof of concept stage before seeking licensee partners to fund further

development, manufacturing scale-up and commercialisation.

CEO and CFO commented: "Last year was one of significant transition for Midatech following a Strategic Review, which was the

catalyst for a re-evaluation of our priorities in the context of available resources. I am proud of the speed and agility with which we

restructured and realigned our development and commercial strategy and halved our cash burn rate. These initiatives allowed us to refinance,

extend our cash runway, expand our R&D pipeline and increase opportunities for partnering success."

contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR).

For more information,

Stephen Stamp, CEO, CFO

Tel: +44 (0)1235 888300

Limited (Nominated Adviser and Joint Broker)

Freddy Crossley, Emma

Earl (Corporate Finance)

Rupert Dearden (Corporate

Tel: +44 (0)20 7886 2500

Turner Pope Investments

(TPI) Limited (Joint Broker)

/ Zoe Alexander (Corporate Broking)

IFC Advisory Limited

(Financial PR and UK Investor Relations)

Tim Metcalfe / Graham

Tel: +44 (0)20 3934 6630

(US Investor Relations)

About Midatech Pharma

Pharma PLC (dual listed on LSE AIM: MTPH; and NASDAQ: MTP) is a drug delivery technology company focused on improving the bio-delivery

and biodistribution of medicines. The Company combines approved and development medications with its proprietary

and innovative drug delivery technologies to provide compelling products that have the potential to powerfully impact the lives of patients.

developed three in-house technology platforms, each with its own unique mechanism to improve delivery of medications to sites of disease.

All of the Company's technologies have successfully entered human use in the clinic, providing important validation of the potential

platform: a disruptive micro-technology used for sustained release to prolong and control the release of therapeutics over an extended

period of time (from weeks to months).

platform: an innovative nanotechnology used to dissolve insoluble drugs so that they can be administered in liquid form directly and

locally into tumours.

platform: a leading-edge nanotechnology used for targeting medications to sites of disease.

of the technologies offers the potential to develop multiple drug assets rather than being reliant on a limited number of programmes.

Midatech's technologies are supported by 36 patent families including 120 granted patents and an additional 70 patent applications.

Midatech's headquarters and R&D facility is in Cardiff, UK. For more information please visit www.midatechpharma.com

in this press release may constitute "forward-looking statements" within the meaning of legislation in the United Kingdom and/or

United States Private Securities Litigation Reform Act. All statements contained in this press release that do not relate to matters of

historical fact should be considered forward-looking statements.

be made to those documents that Midatech shall file from time to time or announcements that may be made by Midatech in accordance with

the London Stock Exchange AIM Rules for Companies ("AIM Rules"), the Disclosure and Transparency Rules ("DTRs") and

the rules and regulations promulgated by the US Securities and Exchange Commission, which contains and identifies other important factors

that could cause actual results to differ materially from those contained in any projections or forward-looking statements. These forward-looking

statements speak only as of the date of this announcement. All subsequent written and oral forward-looking statements by or concerning

Midatech are expressly qualified in their entirety by the cautionary statements above. Except as may be required under the AIM Rules or

the DTRs or by relevant law in the United Kingdom or the United States, Midatech does not undertake any obligation to publicly update

or revise any forward-looking statements because of new information, future events or otherwise arising.

Cardiff, UK, and quoted on the AIM market of the London Stock Exchange and on NASDAQ in the US, Midatech is an R&D biotechnology company

focused on improving the bio-delivery and biodistribution of medicines using its three proprietary drug delivery technologies.

pivoted from a largely singular focus on the clinical development and manufacturing scale up of MTD201 to a strategy based on a broader,

but earlier stage, pipeline. The two strategic drivers behind Midatech's development pipeline, multiple shots on goal and

time and cost to partnerability, are designed to provide optimal opportunities for partnering success while focusing the Company's

resources on those projects that will deliver near term data that could attract a development partner.

development pipeline includes 10 projects of which three are partnered with the European affiliate of a global healthcare company:

Our Q-Sphera technology

employs 3-D printing techniques to encapsulate medicines in polymer-based bioresorbable microspheres. The microspheres may be injected

to form depots in the body which release drug over predictable, sustained periods from one week up to several months. The features and

benefits of Q-Sphera technology offer numerous potential advantages to patients and payors compared with

immediate release products and other polymer-based technologies:

In addition, Q-Sphera

products offer localised delivery to the site of injury including intra tumoral, intra articular, intra ocular and transdermal applications,

in each case reducing the potential for systemic toxicity.

Our MidaSolve technology

increases the aqueous solubility of certain classes of anti-cancer drugs using complexes that solubilize these agents in water, thereby

enabling them to be injected in liquid form directly into tumours.

The complexed molecules

comprise a hydrophobic inner surface and a hydrophilic outer surface, and as a result are capable of forming host-guest complexes with

normally water-insoluble molecules. The hydrophobic, poorly water-soluble drug associates with the inner, more hydrophobic surface of

the MidaSolve host, while the hydrophilic outer surface allows the complex to dissolve at biological pH.

The MidaCore technology

platform is based on ultra-small gold nanoparticle ("GNP") drug conjugates, which at 2-4nm and among the smallest particles

in biomedical use. They are composed of a core of gold atoms decorated with a permutation of therapeutic and/or targeting molecules. The

small size and multi-functional arrangement around the gold core underpin the ability to improve biodistribution and target tumour and/or

MidaCore design and synthesis

GNP technology enables the production of nano-medications, which we believe are five-to-tenfold smaller than any other delivery vehicle

in medical use. MidaCore's therapeutics are comprised of a core of gold atoms (approximately 100 gold atoms per GNP) surrounded

by an organic layer of carbohydrates that stabilise the metallic core and make the particle water-soluble and biocompatible.

of significant transition for Midatech. The precipitous fall in global capital markets in the first quarter of 2020 and the reduced prospects

for raising capital and partnering of assets, triggered a Strategic Review of operations.

As a direct consequence

of the Strategic Review, we restructured and realigned our development and commercial strategy as discussed below. The resultant halving

of the cash burn rate also allowed the Company to refinance, extend its cash runway, expand its R&D pipeline and increase opportunities

for partnering success.

The Strategic Review

was a catalyst for a re-evaluation of our priorities in the context of available resources. We quickly pivoted away from a largely single

focus on MTD201 towards a more broadly-based collaborative strategy. Our realigned strategy is focused on exploiting our technologies