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Midatech Pharma, Novartis sign licensing deal for cancer compound

Midatech Pharma PLC secured the rights to a cancer compound from Novartis AG.

Financial terms of the deal were not disclosed.

Under the global license agreement, Midatech Pharma will develop panobinostat, a pan-HDAC inhibitor meant to treat certain brain tumors. The compound was shown to outperform more than 80 anti-cancer agents in a study, the specialty pharmaceutical company said in a news release.

Clinical studies in patients are planned to commence during 2017.