TILS.L Regulatory News (TILS)

Tiziana Life Sciences plc

("Tiziana" or the "Company")

Placing to raise £600,000 and issue of equity

Update on R&D tax credits

London, March 5, 2018 - Tiziana Life Sciences plc (AIM: TILS), a clinical stage biotechnology company developing targeted drugs for cancer and autoimmune diseases, today announces that it has raised £600,000 by the issue of 600,000 new ordinary shares ("Placing Shares") at a price of 100p per share (the "Placing"). Fees in connection with the Placing are to be satisfied through the issue of 78,000 warrants each exercisable at a price of £1.00 each at any time up to 5 March 2023.

The Company is also pleased to confirm that it has now received R&D tax credits of £469,000 in respect of the tax year 2015/16 and is finalising claims for the 2016/17 tax year at the current time. Due to the significant increase in levels of clinical research spend in 2016 and 2017 the Company expects additional R&D tax credits in excess of £2.5m for this period (subject to the agreement of the claim by HMRC).

Application has been made to the London Stock Exchange plc to admit the Placing Shares to trading on AIM with admission expected to occur on 9 March 2018. These shares will rank pari passu with the existing ordinary shares of nominal value 3p each in the capital of the Company (the "Ordinary Shares"). Following the issue of the Placing Shares, the enlarged issued share capital of the Company will comprise 125,821,472 Ordinary Shares.

The Company has granted options over a total of 10,717,403 Ordinary Shares of which 5,085,833 are vested at exercise prices between 15p and £1.25p per share and 5,631,570 remain subject to vesting conditions (at potential exercise prices ranging from 15p to £1.925 per share). In addition warrants to subscribe for a total of 5,009,246 Ordinary Shares at exercise prices between 50p and £2.50 are outstanding, including the new warrants granted in the Placing.

Therefore the fully diluted issued share capital of the Company is 141,548,121 Ordinary Shares (assuming all options and warrants, vested and unvested, exercised and exercisable, were converted).

In conformity with DTR 5.6.1, the Company notifies that as at the date of this announcement, it has a single class of shares in issue being Ordinary Shares and that following the issue of the Placing Shares, the total number of Ordinary Shares in issue will be 125,821,472. There are no Ordinary Shares held in Treasury. Each Ordinary Share entitles the holder to a single vote at general meetings of the Company.

This figure of 125,821,472 Ordinary Shares may be used by shareholders (and others with notification obligations) as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 and the person who arranged for release of this announcement on behalf of the Company was Tiziano Lazzaretti, Chief Financial Officer.

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About Tiziana

Tiziana is a UK biotechnology company that focuses on the discovery and development of novel molecules that treat human disease in oncology and immunology. The Company is focused on its lead compound milciclib. The Company is also in clinical development of foralumab. Foralumab is the only fully human engineered human anti-CD3 antibody in clinical development. This phase II compound has potential application in a wide range of autoimmune and inflammatory diseases, such as nonalcoholic steatohepatitis (NASH), primary biliary cholangitis (PBS), ulcerative colitis, multiple sclerosis, type-1 diabetes (T1D), inflammatory bowel disease (IBD), psoriasis and rheumatoid arthritis, where modulation of a T-cell response is desirable.

For more information go to http://www.tizianalifesciences.com