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.

Elypta’s MIRAM kit for multi-cancer early detection performed well in a large-scale study.

Shionogi is hoping to demonstrate the efficacy of its oral COVID-19 candidate Xocova through an appropriate primary endpoint in its Phase III trial, while the Japanese firm is also eyeing global expansion for the drug should a world-first domestic approval be granted.