Tiziana announces financial results for year ending 31 December 2018

04 April 2019 | AIM:TILS

Tiziana Life Sciences PLC
("Tiziana" or the "Company")

Financial Results for the Year Ended 31 December 2018

London, 4 April 2019 – Tiziana Life Sciences plc (AIM: TILS), the clinical stage biotechnology company focused on targeted drugs to treat diseases in oncology and immunology, today announces its financial results for the year ended 31 December 2018.

Highlights of the period:

RESEARCH & DEVELOPMENT

  • Foralumab
    • Following the exclusive licence agreement entered into with The Brigham and Women’s Hospital, Inc. relating to a novel formulation of Foralumab in a medical device for nasal administration, the Company filed an investigational new drug application (IND) for the first-in-human evaluation of the nasal administration of Foralumab.
    • Initiated Phase 1 trial to evaluate biomarkers of immunomodulation of clinical responses of the nasal administration of Foralumab in healthy volunteers.
    • Completed cGMP manufacturing of clinical trial materials for a Phase 1 study in preparation of an IND for the first-in-human evaluation of the oral administration of Foralumab.
  • Milciclib
    • In May 2018, the Independent Data Monitor committee (IDMC) completed an interim analysis of tolerability data from the first eleven treated patients and recommended expansion of the initial cohort to an additional 20 patients to complete the trial enrolment, which was completed in December 2018. Top-line data is expected in the second quarter of 2019.
    • Expects to initiate a Phase 2b trial (TZLS (201)-125a-011) dosing Milciclib in combination with Sorafenib (the standard of care) in patients with HCC in 2019.
  • TZLS-501 (Anti-IL6R)
    • In preclinical studies, TZLS-501 demonstrated the potential to overcome limitations of other IL-6 blocking pathway drugs
    • TZLS-501 also demonstrated the potential to block or reduce IL-6 signaling in mouse models of inflammation.

LEADERSHIP

  • On 4th April 2018, the Group announced the addition of Mr Leopoldo Zambeletti as a non-executive director with responsibility for strategic development. Mr Zambeletti will also chair the Nomination Committee.

FINANCIAL

  • In the period January to October 2018, the Company raised a total of £2,811,363 through issue of new ordinary shares.
  • In November 2018, the Company announced pricing of its initial public offering of American Depositary Shares (“ADSs”) raising gross proceeds of £3.42 million.
  • On 20 November 2018, in addition to the £3.42 million raised in the US IPO, the Company announced the issue of 607,500 Ordinary Shares totalling £1.09 million.
  • On 20 November 2018, the Company also announced the issue of 2,137,625 Ordinary Shares at a price of 60p each to certain persons who had made loans to the Company on terms that the loans would be converted (without interest) into Ordinary Shares in the Company completing a qualifying public offering on Nasdaq, equating to the extinguishment of £1.39 million.

POST PERIOD

  • On 7 February 2019, the Company announced that Riccardo Dalla-Favera MD had resigned from his role as Non-Executive Director of the Company.
  • On 20 March 2019, the Company announced that it had submitted an IND to the U.S. Food and Drug Administration (FDA) to initiate a Phase 1 clinical trial of enteric-coated capsules of Foralumab in healthy volunteers. This single-site clinical study is expected to enrol 36 subjects and it will be conducted at the Brigham and Women's Hospital (BWH), Harvard Medical School.

Contacts:

Tiziana Life Sciences plc

Gabriele Cerrone, Chairman and founder

+44 (0)20 7493 2853

Cairn Financial Advisers LLP (Nominated adviser)

Liam Murray / Jo Turner / Richard Nash

+44 (0)20 7213 0880

 

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

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

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