TILS.L Share News (TILS)

(Sharecast News) - Tiziana Life Sciences on Thursday submitted an application to initiate phase one clinical trials for a new treatment of neurodegenerative diseases to the US food and drug administration.The oncology and immunology technology development firm said the study would evaluate safety, tolerability and immunomodulatory effects of nasally administered Foralumab, which has been developed in conjunction with the Brigham and Women's Hospital, Harvard Medical School, Boston.The study will also assess the future therapeutic potential of the treatment, which is aimed at treating neurodegenerative diseases such as progressive multiple sclerosis and amyotrophic lateral sclerosis.Gabriele Cerrone, chairman and founder of Tiziana Life Sciences, said: "The ability to directly target the central nervous system has been, until now, a formidable and long-standing obstacle in the development of treatments for neurodegenerative diseases. Intranasal delivery of therapeutic anti-CD3 mAbs represents a potential game changer to overcome the barrier of the blood brain obstacle."The AIM-traded company said that data from animal studies has demonstrated the effectiveness of intranasal delivery, showing that it induces T regulatory cells in the cervical lymph node and allows them to send an anti-inflammatory signal, potentially leading to amelioration of neurodegenerative disease.Tiziana's shares were up 5.19% at 48.60p at 1148 BST.