Tiziana Life Sciences PLC Announces Exercise of Warrants & Issue of Equity
(firmenpresse) - LONDON, UNITED KINGDOM -- (Marketwired) -- 04/28/16 -- Tiziana Life Sciences PLC (AIM: TILS)
AIM: TILS
Exercise of Warrants & Issue of Equity
London, 28 April 2016 - 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 it has received a notification from warrant holders to exercise warrants over 1,095,000 ordinary shares in the Company at an exercise price of 20p per share, providing the Company with gross proceeds of £ 219,000.
Application will be made to the London Stock Exchange to admit the 1,095,000 new ordinary shares to trading on AIM. Admission of the new ordinary shares is expected to occur on or around 5 May 2016. The new ordinary shares will rank pari passu with the existing ordinary shares.
Following the issue of shares detailed above the so enlarged issued share capital of the Company will comprise 93,487,150 ordinary shares of 3p each.
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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 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. 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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Datum: 28.04.2016 - 06:00 Uhr
Sprache: Deutsch
News-ID 467059
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LONDON, UNITED KINGDOM
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Biotech
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