Tiziana Life Sciences Clarifies Reason for Filing an Amended ADS Registration Statement
Tiziana Life Sciences plc (Nasdaq: TLSA / AIM: TILS) clarified its filing of a corrected amendment registration statement on Form F-6, which is not for a capital raise but to increase the number of American Depositary Shares (ADSs) for shareholder exchange. Each ADS represents two ordinary shares, and the trend of ordinary shares being exchanged for ADSs has grown recently. The company is also focused on developing drugs for various diseases, including Crohn’s disease and COVID-19, through its novel therapeutic candidates.
- Increased availability of ADSs for shareholders, allowing for easier exchange of ordinary shares.
- Initiation of phase 2 studies for foralumab, targeting Crohn’s disease and multiple sclerosis.
- Foralumab is the only fully human anti-CD3 monoclonal antibody in clinical development globally.
- None.
NEW YORK and LONDON, Aug. 28, 2020 (GLOBE NEWSWIRE) -- Tiziana Life Sciences plc (Nasdaq: TLSA / AIM: TILS) (“Tiziana” or the “Company”), a clinical stage biotechnology company developing targeted drugs for cancer, inflammatory diseases and COVID-19, today announced the clarification of the reason for filing a corrected amendment registration statement on Form F-6 registering additional American Depositary Shares (ADSs). The registration statement was not filed to register shares for a capital raise, but for the sole purpose of increasing the number of ADSs available for shareholders to exchange ordinary shares of Tiziana for ADSs. Over the past few months, an increasing number of ordinary shares have been exchanged for ADSs. Each ADS represents two (2) ordinary shares.
The person who arranged for the release of this announcement on behalf of the Company was Keeren Shah, Finance Director of the Company.
About Tiziana Life Sciences
Tiziana Life Sciences plc is a dual listed (NASDAQ: TLSA & UK AIM: TILS) biotechnology company that focuses on the discovery and development of novel molecules to treat human diseases in oncology, inflammation, and infectious diseases. In addition to milciclib, the Company will be shortly initiating phase 2 studies with orally administered foralumab for Crohn’s disease and nasally administered foralumab for progressive multiple sclerosis. Foralumab is the only fully human anti-CD3 monoclonal antibody (mAb) in clinical development in the world. This phase 2 compound has potential application in a wide range of autoimmune and inflammatory diseases, such as Crohn’s disease, multiple sclerosis, type-1 diabetes (T1D), inflammatory bowel disease (IBD), psoriasis and rheumatoid arthritis, where modulation of a T-cell response is desirable. The Company is accelerating development of anti-Interleukin 6 receptor (IL6R) mAb, a fully human monoclonal antibody for treatment of IL6-induced inflammation, especially for treatment of hospitalized COVID-19 patients with severe respiratory symptoms.
For further enquiries:
| United Kingdom: | |
| Tiziana Life Sciences plc Gabriele Cerrone, Chairman and founder | +44 (0)20 7495 2379 |
| Cairn Financial Advisers LLP (Nominated adviser) Liam Murray / Jo Turner | +44 (0)20 7213 0880 |
| Optiva Securities Limited (Broker) Robert Emmet | + 44 (0)20 3981 4173 |
United States:
Investors
Dave Gentry, CEO
RedChip Companies Inc.
407-491-4498
dave@redchip.com
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