leadf
logo-loader
viewTiziana Life Sciences PLC

Tiziana Life Sciences outlines plans to demerge genomics-based personalised medicine businesses

The drug developer’s chief executive has said the StemPrintER technology has the “potential to become an essential prognostic tool” in the fight against breast cancer

Tiziana Life Sciences -

Tiziana Life Sciences PLC (LON:TILS, NASDAQ:TLSA) said it is planning to spin out its StemPrintER and SPARE genomics-based personalised medicine businesses as a separate stock market quoted company.

This will allow the newly independent group to secure independent funding to accelerate the accelerated development of the StemPrintER genomic test, the group said. It will also ensure the demerged entity can focus solely on the personalised medicines market.

Tiziana said its shareholders would benefit from holding shares in both Tiziana, which has a rapidly developing drug portfolio while realising the “standalone value” of StemPrintER operation as it progresses through its own development milestones.

Last week, the drug developer’s chief executive said the StemPrintER technology has the “potential to become an essential prognostic tool” in the fight against breast cancer.

Kunwar Shailubhai’s comment followed the release of a scientific abstract ahead of a poster discussion session at the American Society of Clinical Oncology’s (ASCO) virtual conference being held later this month.

This poster showed the stem cell biology-based genomic tool had “greater refinement [than] and superiority [to]” than the current market leader, Oncotype DX, in delivering prognostic information on women with ER+/HER2- form of breast cancer.

The results were compiled by the European Institute of Oncology in Milan in collaboration with the Royal Marsden Hospital and Queen Mary University in London.

On Friday, Tiziana said the results of the trial and the progress made “substantiate the viability of StemPrintER as having the potential to be a standalone business”.

“The board is taking the necessary preliminary steps in preparation for a potential spin-out, including the incorporation of a new subsidiary to hold the relevant assets,” it added.

“The company will also put proposals to shareholders at the annual general meeting to obtain the approval necessary for a capital reduction which will be required to implement the demerger.”

Quick facts: Tiziana Life Sciences PLC

Price: 145 GBX

AIM:TILS
Market: AIM
Market Cap: £277.18 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Tiziana Life Sciences PLC named herein, including the promotion by the Company of Tiziana Life Sciences PLC in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Tiziana Life Sciences to fast-track its human coronavirus trials for...

Tiziana Life Sciences PLC (LON:TILS)(NASDAQ:TLSA) chairman Gabriele Cerrone speaks to Proactive London's Andrew Scott after announcing they're soon to kick off a clinical study of its nasally administered Foralumab in COVID-19 patients in Brazil. He says it's due to start in the next...

4 days, 10 hours ago

2 min read