31 Mar 2015 07:00
31 March 2015
TIZIANA LIFE SCIENCES PLC
Placing to raise £2.55 million
London, 31 March 2015 - Tiziana Life Sciences plc (AIM: TILS, the "Company"), the clinical stage biotechnology company focused on targeted drugs to treat diseases in oncology and immunology, announces that the Company has raised £2.55 million through the issue of 3,400,000 new ordinary shares ("Placing Shares") to new investors at a price of 75 pence per share.
Application has been made to the London Stock Exchange to admit the Placing Shares to trading on AIM and admission is expected to occur on 7 April 2015. The Placing Shares will rank pari passu with the Company's existing ordinary shares.
Following the issue of the Placing Shares, the enlarged issued share capital of the Company will comprise 92,333,928 ordinary shares of 3p each. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the Disclosure and Transparency Rules.
Contacts:
Tiziana Life Sciences plc Philip Boyd, CFO | +44 (0)20 7493 2853 |
Cairn Financial Advisers LLP (Nominated adviser) Liam Murray / Avi Robinson | +44 (0)20 7148 7900 |
Beaufort Securities Limited (Broker) Saif Janjua | +44 (0)20 7382 8300 |
FTI Consulting Simon Conway / Rob Winder / Natalie Garland-Collins | +44 (0)20 3727 1000 |
About Tiziana Life Sciences
Tiziana Life Sciences plc is a UK biotechnology company that focuses on the discovery and development of novel molecules that treat human disease in oncology and immunology.
In January 2015, the Company entered into an exclusive license from Nerviano Medical Sciences relating to milciclib, a molecule which blocks the action of specific enzymes called cyclin-dependent kinases (CDK) involved in cell division as well as a number of other protein kinases. Milciclib is currently in phase II clinical trials for thymic carcinoma in patients previously treated with chemotherapy.
The Company also in-licensed another clinical asset in December 2014 from Novimmune. Foralumab is the only fully human engineered anti-human CD3 antibody in clinical development. This phase II asset has potential application in a wide range of autoimmune and inflammatory diseases, such as multiple sclerosis, type-1 diabetes (T1D), inflammatory bowel disease (IBD), psoriasis and rheumatoid arthritis, where modulation of a T-cell response is desirable.
Tiziana Life Sciences' research team has discovered that Bcl-3 has a prominent role in the metastasis of mammary cancers, and has elucidated the mechanism of Bcl-3 action to be a regulator of cancer cell motility. Tiziana has also determined that Bcl-3 inhibition suppresses cell motility in triple-negative, HER-2-positive PR- and ER-positive breast cancer sub-types, suggesting that Bcl-3 may be a master regulator of this metastatic property not only in aggressive breast cancers, but across the clinical spectrum of breast disease.
For more information go to http://www.tizianalifesciences.com