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news.Midatech Group, a company into design, development, synthesis and manufacture of nanomedicines, and Immunotope have formed a joint venture Syntara to jointly develop antigen based products for immune therapies to treat chronic viral infections and certain cancers.
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As per the terms of the contract, Immunotope and Midatech are expected to license specific intellectual property to Syntara for the development of immunotherapy products.
Under the contract, both the companies will have equal representation on the board of directors that will oversee the management team’s responsibility for Syntara’s product development operations.
Syntara is expected to be based in the US with initial capitalisation provided by the parent companies, with the intention to raise additional financing within 6-9 months.
Tom Rademacher, chairman of Midatech Group, said: “We are excited about the formation of Syntara. The joint venture provides a route to nurture the development of new products for the treatment of certain cancers and chronic infections.”