Tiziana Life Sciences PLC Exercise of Warrants & Issue of Equity (3990A)
24 March 2017 - 6:00PM
UK Regulatory
TIDMTILS
RNS Number : 3990A
Tiziana Life Sciences PLC
24 March 2017
Tiziana Life Sciences PLC
("Tiziana" or the "Company")
Exercise of Warrants & Issue of Equity
London, 24 March 2017 - 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 1,789,524 ordinary shares in the Company
at an exercise price of 32p per share, providing the Company with
gross proceeds of GBP572,648. All "B" series warrants have now been
exercised.
Application will be made to the London Stock Exchange to admit
the 1,789,524 new ordinary shares to trading on AIM. Admission of
the new ordinary shares is expected to occur on or around 30 March
2017. The new ordinary shares will rank pari passu with the
existing ordinary shares.
The Company's issued share capital comprises 96,182,925 ordinary
shares of 3p each. The Company has outstanding convertible loan
notes in the principal amount of GBP12,969,219 convertible into new
ordinary shares at conversion prices ranging from 24p to
GBP1.50.
The Company has granted options over a total of 13,830,902
ordinary shares of which 4,855,000 are vested at exercise prices
between 15p and 57p per share and 8,945,902 remain subject to
vesting conditions (at potential exercise prices ranging from 15p
to GBP1.925 per share). In addition warrants to subscribe for a
total of 4,239,403 ordinary shares at exercise prices between 50p
and GBP2.50 are outstanding.
Therefore the fully diluted issued share capital of the Company
is 138,915,522 ordinary shares (assuming all convertible loan
notes, options and warrants, vested and unvested, exercised and
exercisable, were converted).
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.
The Company is focused on its lead compound, 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
completing phase II clinical trials for thymic carcinoma in
patients previously treated with chemotherapy and preparing and IND
to enroll patients in an exploratory trial in Hepatic Cellular
Carcinoma (HCC).
The Company is also in clinical development of foralumab.
Foralumab is the only fully human engineered anti-human CD3
antibody in clinical development. This phase II compound has
potential application in a wide range of autoimmune and
inflammatory diseases, such as 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.
Tiziana Life Sciences' clinical development teams are working on
its Bcl-3 candidate; which 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 and 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. The Company is
preparing the IND package with the intention of progressing to
clinical trials this year.
For more information go to
http://www.tizianalifesciences.com
Contacts:
Tiziana Life Sciences plc
Gabriele Cerrone, Chairman and founder +44 (0)20 7493 2853
Cairn Financial Advisers LLP (Nominated adviser)
Liam Murray +44 (0)20 7213 0883
Beaufort Securities Limited (Broker)
Elliot Hance +44 (0)20 7382 8300
FTI Consulting
Simon Conway / Natalie Garland-Collins +44 (0)20 3727 1000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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