Tiziana Receives $3.4 Million in Non-Dilutive Funding

Rhea-AI Summary

Tiziana Life Sciences (Nasdaq: TLSA) has secured $3.4 million in non-dilutive funding. This funding will support their ongoing Phase 2 trial for intranasal foralumab in treating non-active secondary progressive multiple sclerosis (na-SPMS) and advancements in Alzheimer's Disease research. Chairman and acting CEO, Gabriele Cerrone, emphasized the importance of this funding in propelling their research and expressed their intention to seek further non-dilutive funding.

Positive

• Secured $3.4 million in non-dilutive funding.
• Funding to support ongoing Phase 2 trial for intranasal foralumab in na-SPMS.
• Funding to aid Alzheimer's Disease research advancements.

Negative

• None.

Insights

Financial Analyst

The receipt of $3.4 million in non-dilutive funding is a positive development for Tiziana Life Sciences, especially since it avoids the dilution of existing shareholders’ equity. This influx of funds will support ongoing clinical trials, which are critical for advancing the company's pipeline without adding financial burden to current shareholders. For retail investors, this means no immediate risk of share dilution, which can often lead to a decrease in share value. However, while the funding helps in the short term, it does not necessarily solve long-term financial needs and investors should keep an eye on the company’s future funding strategies and trial outcomes.

Given the company's focus on neurodegenerative diseases, which are notoriously challenging and expensive fields, the funding is undeniably beneficial but should be seen as a piece of a larger financial puzzle rather than a standalone solution.

Medical Research Analyst

From a clinical perspective, the funding supports the ongoing Phase 2 trial of intranasal foralumab for na-SPMS. Intranasal delivery of medication is an emerging area, potentially offering more direct and efficient drug delivery to the brain, which can be particularly beneficial in treating neurological conditions. The continued funding of such innovative approaches is significant, as it may lead to breakthroughs in otherwise hard-to-treat conditions. Additionally, funding for Alzheimer’s Disease research is important given the high unmet need in this area.

Investors should note that the clinical trial phases are long and uncertain processes. While the funding avoids immediate financial strain, the timeline for definitive trial results and potential market approval is still uncertain.

NEW YORK, June 28, 2024 (GLOBE NEWSWIRE) -- Tiziana Life Sciences, Ltd. (Nasdaq: TLSA) (“Tiziana” or the “Company”), a biotechnology company developing breakthrough therapies in neurodegenerative disease secondary to active neuroinflammatory processes today announced that it had received non-dilutive funding of $3.4 million and issued a corporate update video available here.  

Gabriele Cerrone, Chairman, acting CEO and founder of Tiziana Life Sciences commented, “Tiziana is pleased to receive $3.4 million in non-dilutive funding to support our ongoing Phase 2 trial of intranasal foralumab in non-active secondary progressive multiple sclerosis (na-SPMS) as well as our work in Alzheimer’s Disease. We continue to explore all avenues to pursue further non-dilutive funding in the near term.”

About Foralumab

Activated T cells play an important role in the inflammatory process. Foralumab, the only fully human anti-CD3 monoclonal antibody (mAb), binds to the T cell receptor and dampens inflammation by modulating T cell function, thereby suppressing effector features in multiple immune cell subsets. This effect has been demonstrated in patients with COVID and with multiple sclerosis, as well as in healthy normal subjects. The non-active SPMS intranasal foralumab Phase 2 trial (NCT06292923) began screening patients in November of 2023. Immunomodulation by nasal anti-CD3 mAb represents a novel avenue for treatment of neuroinflammatory and neurodegenerative human diseases.^[1],[2]

About Tiziana Life Sciences

Tiziana Life Sciences is a clinical-stage biopharmaceutical company developing breakthrough therapies using transformational drug delivery technologies to enable alternative routes of immunotherapy. Tiziana’s innovative nasal approach has the potential to provide an improvement in efficacy as well as safety and tolerability compared to intravenous (IV) delivery. Tiziana’s lead candidate, intranasal foralumab, which is the only fully human anti-CD3 mAb, has demonstrated a favorable safety profile and clinical response in patients in studies to date. Tiziana’s technology for alternative routes of immunotherapy has been patented with several applications pending and is expected to allow for broad pipeline applications.

For further inquiries:

Tiziana Life Sciences Ltd
Paul Spencer, Business Development and Investor Relations
+44 (0) 207 495 2379
email: info@tizianalifesciences.com

Investors:
Irina Koffler
LifeSci Advisors, LLC
646.970.4681
ikoffler@lifesciadvisors.com

[1] https://www.pnas.org/doi/10.1073/pnas.2220272120

[2] https://www.pnas.org/doi/10.1073/pnas.2309221120

FAQ

What recent funding did Tiziana Life Sciences (TLSA) receive?

Tiziana Life Sciences received $3.4 million in non-dilutive funding.

How will Tiziana (TLSA) use the $3.4 million non-dilutive funding?

The funding will support the ongoing Phase 2 trial for intranasal foralumab in treating non-active secondary progressive multiple sclerosis (na-SPMS) and Alzheimer's Disease research.

When was the funding for Tiziana (TLSA) announced?

The funding announcement was made on June 28, 2024.

What is the goal of Tiziana's (TLSA) Phase 2 trial?

The Phase 2 trial aims to test the efficacy of intranasal foralumab in treating non-active secondary progressive multiple sclerosis (na-SPMS).

What diseases is Tiziana (TLSA) focusing on with the new funding?

Tiziana is focusing on non-active secondary progressive multiple sclerosis (na-SPMS) and Alzheimer's Disease.