June 2022 Midatech Pharma PLC ("Midatech" or the "Company") Fast Track Designation Granted to MTX110 Development for the Treatment of Recurrent Glioblastoma Midatech Pharma PLC (AIM: MTPH.L; Nasdaq: MTP), an R&D biotechn

("Midatech" or the "Company")

Fast Track Designation Granted to MTX110 Development

for the Treatment of Recurrent Glioblastoma

Midatech Pharma PLC (AIM: MTPH.L; Nasdaq: MTP),

an R&D biotechnology company focused on improving the bio-delivery and biodistribution of medicines, is pleased to announce that upon

submitting an application to the U.S. Food and Drug Administration ("FDA"), its development programme of MTX110 for the treatment

of recurrent glioblastoma ("rGBM") has been granted Fast Track designation by the agency.

Fast Track is a process designed to facilitate

the development and expedite the review of treatments for serious conditions and that potentially address unmet medical needs. Drugs that

are granted this designation are given the opportunity for more frequent interactions with the FDA, as well as potential pathways for

Commenting, Dmitry Zamoryakhin, CSO of Midatech,

said: "GBM is a devastating cancer marked by short survival rate and universal recurrence. Receiving Fast Track designation

for MTX110 is an important milestone for the development of the drug as it demonstrates the need for novel and effective treatment options

for this currently universally fatal disease. MTX110, our water-soluble formulation of Panobinostat, will soon start recruitment into

a company-sponsored Phase I study in patients with recurrent GBM".

announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014, as it forms part

of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (as amended).

MTX110 is a water-soluble

form of panobinostat free base, achieved through complexation with hydroxypropyl- -cyclodextrin (HPBCD), that enables convection-enhanced

delivery (CED) at potentially chemotherapeutic doses directly to the site of the tumour. Panobinostat is a hydroxamic acid and acts as

a non-selective histone deacetylase inhibitor (pan-HDAC inhibitor). The currently available oral formulation of panobinostat

lactate (Farydak ) is not suitable for treatment of brain cancers owing to poor blood-brain barrier penetration and inadequate brain

drug concentrations. Based on favourable translational science data, MTX110 is being evaluated clinically as a treatment for

DIPG (NCT03566199, NCT04264143) and recurrent medulloblastoma (NCT04315064), and preclinically for treatment of glioblastoma (SNO 2020

Abstract TMOD-27). MTX110 is delivered directly into and around the patient's tumour via a catheter system (e.g. CED or fourth ventricle

infusions) to bypass the blood-brain barrier. This technique exposes the tumour to very high drug concentrations while simultaneously

minimising systemic drug levels and the potential for toxicity and other side effects. Panobinostat has demonstrated high potency against

DIPG tumour cells in in vitro and in vivo models, and in a key study it was the most promising of 83 anticancer agents tested

in 14 patient-derived DIPG cell lines (Grasso et al, 2015. Nature Medicine 21(6), 555-559).

For more information, please contact:

About Midatech Pharma

Midatech Pharma PLC (dual listed on LSE AIM: MTPH;

and NASDAQ: MTP) is a drug delivery technology company focused on improving the bio-delivery and bio-distribution 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.

The Company has 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 for each platform:

The platform nature 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

Forward-Looking Statements

Certain statements 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.

Reference should 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.