Midatech was founded in 2000 to translate the pioneering work of Prof. Soledad Penadés on functionalized gold nanoparticles. The company acquired an exclusive license with worldwide commercialization rights from the CSIC (Consejo Superior de Investigaciones Cientificas) in Seville, Spain. The CSIC originally developed the technology to study carbohydrate interactions using gold particles as an anchor. Under Midatech guidance, a variety of applications in the life sciences were established to complement the academic proof-of-concept. Accordingly, the company set out to establish the fundamental aspects of the GNP technology including its chemistry and the creation of libraries of nanoparticles linked to ligands including small molecules such as antibiotics, small interfering RNA and peptides. Midatech’ has received 14 competitive grants and has built a strong network of investors. In order to meet GNP demand from its contract clients, the Company commissioned its Bilbao manufacturing site in 2006 after its first major round of fundraising. The site was completed in 2007.
The company has successfully employed its nanotechnology platform and know-how to transition discovery and engineering sciences to practical nanomedicine applications through in-house and partnered drug development programs. Midatech’s unique nanoparticles allow rapid targeting of drugs or drug combinations to specific tissues or cells as well as potentially enabling transport across the blood brain barrier.