September 2021 Midatech Pharma Plc ("Midatech" or the "Company") Interim results for the six months ended 30 June 2021 Midatech Pharma PLC (AIM: MTPH.L; NASDAQ: MTP), a drug delivery technology company focused on improvi

for the six months ended 30 June 2021

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

announces its unaudited interim results for the six months ended 30 June 2021.

the Company announced significant progress across a number of R&D programmes including:

FINANCIAL HIGHLIGHTS

(including post period end)

Stamp, CEO and CFO of Midatech said: "We are pleased to report good progress throughout the Company and an expanded and exciting

pipeline of programmes and opportunities. The disruption and costs of the restructuring in 2020 are now behind us. The first half of 2021

has been highly productive with three potentially viable Q-Sphera formulations, one internal and two for a collaboration partner. We believe

the breakthrough data on the encapsulation of a protein could prove to be a very significant opportunity for Midatech."

Company will be hosting a webinar at 5.30pm BST / 12.30pm EST on Monday 20 September 2021. The webinar is open

to all existing and potential shareholders and those interested in attending may register via the following link where, following registration,

they will be provided with access details:

may submit questions during the webinar or in advance via email to: midatech@investor-focus.co.uk

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 ("MAR"), and is disclosed in accordance with the

company's obligations under Article 17 of MAR.

For more information,

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 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.

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

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.

following the announcement of our Strategic Review, we have rationalised operations including the shutdown of our Bilbao operations, thereby

halving our monthly cash burn rate and pivoted from a largely singular focus on one Phase III ready asset (MTD201, Q-Sphera octreotide)

to a "multiple shots on goal" strategy with an expanded pipeline of 10 earlier stage programmes as follows:

of 2021 was highly productive in terms of advancing our R&D pipeline, culminating in the announcement of breakthrough data on the

successful encapsulation of a biologic using Q-Sphera technology and significant progress across multiple other R&D programmes on

Q-Sphera technology employs proprietary 3-D printing techniques to encapsulate drugs in polymer-based bioresorbable microspheres which

may be injected to form depots in the body which release drug over predictable, sustained periods from one week to several months. Progress

of the Q-Sphera pipeline in 1H21 includes:

(incl mAb) formulation

are no approved long-acting injectable formulations of biologic products such as mAbs or other high molecular weight proteins primarily

because they are delicate and easily de-natured in manufacture. We have been working on several proteins including two exemplar mAbs and

thus far, have demonstrated encapsulation of the mAb and most importantly, preservation of its functional integrity and antigen binding

in vitro. We believe no other commercial or academic organisation has been able to successfully deliver therapeutic proteins over

extended periods using methods capable of commercial scaling.

believe these results could open up very significant opportunities for our Q-Sphera technology. A significant number of latest generation

medicines are protein based and reformulation as long-acting injectables could provide significant benefits to patients, physicians and

at reduced cost to payors. In 2020, the top 10 mAbs recorded aggregate sales of US$74.9 billion1 and all mAbs US$154 billion1

steps will be to further optimise the drug loading and dissolution profile for encapsulated mAbs. In parallel, we are seeking to replicate

the data seen with the first exemplar mAb and we are evaluating multiple high value mAb therapeutics to add to our internal pipeline.

MTX214 and MTX216 are being developed under collaboration agreements with the European affiliate of a global healthcare company. We manufactured

and delivered proof of concept formulations of both MTX214 and MTX216 to the collaboration partner who, in turn, is undertaking in

vivo studies with both formulations.

of our internal pipeline, we have successfully developed a long-acting formulation of brexpiprazole. In in vivo studies, MTD211

was well tolerated and demonstrated that a single injection of MTD211 is expected to deliver therapeutic blood levels of brexpiprazole

over a period of three months.

under the brand name Rexulti , brexpiprazole is indicated for the treatment of schizophrenia and adjunctive treatment of major depressive

disorder (MDD) and is currently only available as an immediate release oral tablet. The market for anti-psychotic drugs is shifting towards

long-acting formulations for reasons of improved patient compliance and lowering of payor costs associated with patient hospitalisation

events as evidenced by the recent approval of Invega Hafyera for schizophrenia. Sales of long-acting anti-psychotic products in

2020 were approximately US$5.7 billion2 globally.

initiated discussions with third parties about a potential licencing of MTD211. There can be no assurance on

the timing for concluding these discussions nor any assurance that the parties will enter into definitive agreements.

formulation of panobinostat administered through convection enhanced delivery, is in clinical development for intractable brain cancers

including Diffuse Intrinsic Pontine Glioma (DIPG) and Glioblastoma Multiforme (GBM).

Following a constructive

pre-IND meeting with the FDA in June 2021, we are planning to initiate a Phase II study in DIPG as soon as possible after the recruitment

and treatment of the remaining four patients in the ongoing Phase I study at Columbia University. The Phase II study is expected to be

open label with two doses in newly diagnosed patients. Administration of MTX110 will be via convection enhanced delivery (CED) over 48

hours in six cycles, two to four weeks apart. Primary endpoints will be safety, tolerability and overall survival at 12 months (OS12).

Approximately 1,000 patients3 globally are diagnosed with DIPG per annum and median survival is approximately 10 months4.

in vivo data that were presented at the 2020 annual meeting of The Society of Neuro-Oncology which demonstrated the efficacy of

MTX110 against two GBM cell lines in an ectopic tumour model, in 1H21 we demonstrated the potency, at therapeutic concentrations, of MTX110

against a further four patient-derived GBM cell lines in vitro. We are planning a Phase I pilot study in GBM patients to begin

enrolment in the next few months. There are GBM diagnoses of 2 to 3 per 100,000 population per annum5 and survival ranges from

13 to 30 months depending on MGMT methylation6.

("Secura Bio"), the owner of Panobinostat, terminated the Company's licence to certain panobinostat patents in June

2020. Notwithstanding Secura Bio refusing in writing three times to withdraw that termination, the Company has received further correspondence

claiming termination in May 2021, this time for material breach of the terms of the licence and is demanding, among other things, that

the Company grant Secura Bio a non-exclusive, free licence to its intellectual property and know-how. The Company believes that such claims

and demands are without any merit and will defend them robustly.

Contract negotiations

with a third party in respect of a potential co-development deal are continuing, although at a slower pace than anticipated due to issues

associated with COVID-19.