LONDON (Alliance News) - Tiziana Life Sciences PLC Wednesday reported a widened operating loss as it inked several licensing agreements during the first half of 2015.
For the half year to end-June the company reported an operating loss of GBP4.1 million, widened from an operating loss of GBP1.6 million a year before as a result of higher research and development costs.
The company raised a total of GBP8.3 million during the period through a placing of shares and a convertible loan note. It acquired an exclusive licence for milciclib, a small molecule drug candidate, as well as an exclusive licence for a novel anti-cancer stem cell agent and an exclusive licence for an engineered anti-human CD3 antibody for the treatment of autoimmune diseases.
"Tiziana Life Sciences has had a successful six months. We have built on our strong end to last year and the funds raised have enabled us to significantly bolster our pipeline, which now addresses several areas of significant unmet medical need in both cancer and autoimmune diseases. Looking ahead, we are confident of being well positioned to progress these programmes to their next respective value inflection points," said Chairman and Founder Gabriele Cerrone in a statement.
Shares in Tiziana were down 3.0% at 186.70 pence Wednesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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