Tiziana Receives $3.4 Million in Non-Dilutive Funding
Tiziana Life Sciences (Nasdaq: TLSA) has secured $3.4 million in non-dilutive funding.
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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.
Details
News Market Reaction – TLSA
The recorded move for TLSA in the trading session of this news was +4.43%.
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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
Gabriele Cerrone, Chairman, acting CEO and founder of Tiziana Life Sciences commented, “Tiziana is pleased to receive
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
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