LONDON, UNITED KINGDOM--(Marketwired - Jun 7, 2016) - Tiziana Life Sciences PLC (AIM: TILS)
AIM: TILS
Tiziana Life Sciences PLC
("Tiziana" or the "Company")
Final Results for the year ended 31 December 2015
June 07, 2016 - Tiziana Life Sciences plc (AIM: TILS), a 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 2015.
Highlights during the period:
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£12.8m (gross) raised through placing of shares and convertible loan notes
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Licensed milciclib, which is currently in phase II clinical trials for thymoma cancer in patients previously treated with chemotherapy, from Nerviano Medical Sciences
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Acquired exclusive licence to a novel anti-cancer stem cell agent, capable of targeting aggressive tumour forming cells originating from the breast, pancreas, colon and prostate, from Cardiff University scientists
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Acquired exclusive licence to a novel and currently the only fully human engineered anti-human CD3 antibody for treatment autoimmune diseases
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Phase II asset with potential applications in a wide range of autoimmune and inflammatory diseases
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James (Jim) Tripp appointed Chief Operating Officer
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Dr. Kunwar Shailubhai and Willy Simon appointed to the Board as non-executive directors
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Company director Riccardo Dalla-Favera elected to the U.S. National Academy of Sciences
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Group loss for the year of £8.63m (2014: £3.33m*)
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The Group ended the period with £8.90m cash as at 31 December 2015 (2014: £2.27m)
*as adjusted, see note 2
Post period highlights:
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£709,406 raised through the issue of unsecured convertible loan notes to existing investors
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Tiziano Lazzaretti appointed Chief Financial Officer
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Professors Kevan Herold and Howard Weiner to Scientific Advisory Board, providing key leadership and experience in CD3 clinical development
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Clinical development team expanded with the appointment of Robert Evans as Vice President of Clinical Sciences
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Announced plans for further development of foralumab in two clinical indications: 1) graft vs host disease, and 2) ulcerative colitis
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Research agreement with Cardiff University has led to the identification of lead clinical candidate, CB1, a Bcl-3 inhibitor with potent anti-metastatic activity, and impressive in vivo efficacy and safety profile
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Investigational New Drug application to be filed in 2016, expecting to move into clinical trials before the end of the year
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Gabriele Cerrone, Chairman and founder of Tiziana, commented:
"2015 was an important year for Tiziana as the Company continued to build and strengthen its portfolio of therapeutics to treat patients with significant unmet medical needs. We are focusing on two distinct disease areas: rare cancers and difficult to treat autoimmune diseases; and the addition of milciclib to our portfolio, as well as the acquisition of foralumab at the end of 2014, gives the Company two phase II candidates. We also remain on-track to progress our lead candidate in our Bcl-3 programme into the clinic in late 2016 or early 2017. The funds raised throughout the year demonstrate the confidence our shareholders have in Tiziana and we look forward to generating further shareholder value going forward."