Midatech Pharma (AIM:MTPH) (Nasdaq:MTP), a pharmaceutical company focused on oncology and other therapeutic drugs, has completed its acquisition of an anti-nausea drug from Galena Biopharma Inc. (Nasdaq:GALE) of Portland, Oregon.

Midatech, based in Oxfordshire, United Kingdom, is paying $3.75 million upfront in cash, with further cash payments bringing the total to up to $26 million if sales goals are reached. The drug, Zuplenz, a form of ondansetron, is marketed in the U.S. for prevention of nausea and vomiting caused in cancer patients by chemotherapy, radiation therapy and surgery. According to Midatech, the drug has a target market of $4.6 billion by 2018.

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