Building Momentum
London, 05 June 2015 – Tiziana Life Sciences plc (“Tiziana”, AIM: TILS), the clinical stage biotechnology company focused on targeted drugs to treat diseases in oncology and immunology, today announces its Final Results for the year ended 31 December 2014 and provides Notice of its AGM.
Highlights during the period:
• Shares began trading on the AIM market of the London Stock Exchange on 24 April 2014 through reverse acquisition of Alexander David Investments plc
o £2.73m (gross) raised through placing of shares and convertible loan note
o Further £1.45m raised through convertible loan note in June 2014
• Acquires exclusive license from Novimmune, for clinical stage asset, foralumab, a fully human antihuman CD3 receptor monoclonal antibody (CD3 mAb) broadening pipeline into inflammatory diseases
• Licensing agreement with TTFactor S.r.l. to develop stem cell based breast cancer diagnostics
• Gabriele Cerrone and Dr Riccardo Dalla-Favera appointed to the Board
• Dr Napoleone Ferrara was appointed as Chairman of the Scientific Advisory Board and Professor Pier Paolo Di Fiore and Professor Roberto Pellicciari were appointed as a members of the Scientific Advisory Board
• Loss for the year of £3,570,000 (2013: nil). Year-end Group cash balance at 31 December 2014 was £2,266,000 (2013: nil)
Post period highlights:
• Licensed milciclib, which is currently in phase II clinical trials for thymic carcinoma in patients previously treated with chemotherapy, from Nerviano in January 2015
• Placing of shares to raise £2.55m (gross) in March 2015
• Issued £6.14m Convertible Loan Notes in April 2015
• Licenses anti-cancer stem cell technology from the University of Cardiff in May 2015
• Professor Chris McGuigan and Dr Kunwar Shailubhai appointed to the Board
Gabriele Cerrone, Chairman and founder of Tiziana, commented:
“Tiziana Life Sciences has had a successful first year as a publicly listed Company and we exited the period with strong momentum. We significantly bolstered our pipeline, which now addresses several areas of significant unmet medical need in both cancer and inflammatory disease. Looking ahead, we are confident of being well positioned to progress these programmes to their next respective value inflection points.”
Contacts:
Tiziana Life Sciences plc
Gabriele Cerrone, Chairman and founder
+44 (0)20 7493 2853
Cairn Financial Advisers LLP (Nominated advisor)
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 licence 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.
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