Having just avoided going into administration, the firm formerly known as Midatech has pivoted its business model from a drug delivery company to a therapeutics player and has hit the acquisition trail.

Plus deals involving Ono/PeptiDream, Onconic/Livzon, Teijin/Novartis, Eisai/Biogen, Abbisko/Allist, Daewoong/M8, GC Biopharma/Catalyst and KYM Biosciences/AstraZeneca.

The UK firm's shareholders have not approved plans to acquire Bioasis, a decision that puts Midatech in a tricky situation as its cash will run out by mid-March.

With just enough cash to stay afloat until the first quarter, Midatech is linking up with US-based, Canada-listed Bioasis to create a new rare disease player, Biodexa.