LONDON, UNITED KINGDOM--(Marketwired - Jun 29, 2016) - Tiziana Life Sciences PLC (AIM: TILS)
Tiziana Life Sciences PLC
("Tiziana" or the "Company")
Exercise of Warrants, Conversion of Convertible Loan Notes and Issue of Equity
London, 29 June 2016 - Tiziana Life Sciences plc (AIM: TILS), a clinical stage biotechnology company focused on targeted drugs to treat diseases in oncology and immunology, announces that it has received the following notifications:
(i) from warrant holders to exercise warrants over 206,250 ordinary shares in the Company at an exercise price of 32p per share, providing the Company with gross proceeds of £66,000; and
(ii) from convertible loan note holders to convert loan notes in the principal and interest amount of £168,000 into ordinary shares in the Company at a conversion price of 24p resulting in the issuance of 700,000 ordinary shares in the Company.
Application will be made to the London Stock Exchange to admit the 906,250 new ordinary shares to trading on AIM. Admission of the new ordinary shares is expected to occur on or around 4 July 2016. The new ordinary shares will rank pari passu with the existing ordinary shares.
Following the issue of shares detailed above the so enlarged share capital of the Company will comprise 94,393,400 ordinary shares of 3p each. The Company has outstanding convertible loan notes in the principal amount of £12,969,219 convertible into new ordinary shares at conversion prices ranging from 24p to £1.50. The Company has granted options over a total of 11,749,402 ordinary shares of which 4,855,000 are vested at exercise prices between 15p and 57p per share and 6,894,402, remain subject to vesting conditions (at potential exercise prices ranging from 15p to £1.50 per share). In addition warrants to subscribe for a total of 6,029,103 ordinary shares at exercise prices between 32p and £2.50 are outstanding.
Therefore the fully diluted issued share capital of the Company is 134,215,520 ordinary shares (assuming all convertible loan notes, options and warrants, vested and unvested, exercised and exercisable, were converted but not taking into consideration new ordinary shares to be issued for accrued but unpaid interest on the convertible loan notes).
|Tiziana Life Sciences plc
Gabriele Cerrone, Chairman and founder
|+44 (0)20 7493 2853
|Cairn Financial Advisers LLP (Nominated adviser)
|+44 (0)20 7148 7900
|Beaufort Securities Limited (Broker)
|+44 (0)20 7382 8300
Simon Conway / Rob Winder / Natalie Garland-Collins
|+44 (0)20 3727 1000
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
This information is provided by RNS
The company news service from the London Stock Exchange