Full Press Release Details
Life Sciences Announces Planned Spin Out of StemPrintER into a New Publicly Listed Company, AccuStem Sciences
Shareholders to receive 1:1 share dividend in AccuStem Sciences
YORK/LONDON, September 16, 2020 - 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, and focused on innovative therapeutics for oncology, inflammation and infectious disease, today announced plans for
demerging its StemPrintER asset into a separate and independently listed public company, Accustem Sciences Limited.
is a best-in-class genomic signature-based assay for the prognosis of early and late recurrence of ER+/HER2 breast cancer in early
stage breast cancer patients. In a side-by-side comparison study, StemPrintER was 40% more accurate than the Oncotype DX assay.
In 2019, Tiziana presented two posters at the American Society for Clinical Oncology (ASCO) that showed StemPrintER outperformed
OncoType DX in a 10-year risk prediction in more than 800 ER+/HER2 postmenopausal breast cancer patients. Results demonstrated
that the next-generation StemPrintER Risk Score (SPARE) model is approximately 20% superior to the traditional clinicopathological
parameters in providing prognostic information in more than 1,800 tissue samples from patients with ER+/HER2- breast cancer and
is 40-50% more accurate in lymph node-negative (N0) and 1 to 3 lymph node-positive (N1-3) patients. Notably, Exact Sciences purchased
the Oncotype DX assay from Genomic Health for $2.8 billion.
Company will hold a shareholders meeting on October 2, 2020 to vote on the planned demerger. As part of the demerger, Tiziana
will provide the new entity with $1.3M in cash.
Sciences intends to list on the London Stock Exchange (LSE) in late Q4 2020, and potentially a dual listing on NASDAQ in 2021.
To effect the demerger, Tiziana plans to distribute a 1:1 share dividend to its shareholders with a record date of 0700 London
time on October 30, 2020.
Sciences will begin the process of seeking CE Mark approval in November of 2020 with anticipated commercialization in Europe in
the second quarter of 2021. Subsequently, the Company also intends to seek FDA approval.
Cerrone, Chairman of Tiziana, commented: "We are extremely pleased to announce the planned spin out of our StemPrintER technology.
We believe that we have not received the proper valuation for the technology while it has been part of Tiziana. Thus, we are now
fulfilling our promise to shareholders to demerge the asset and create a new public company that will focus exclusively on the
commercialization of StemPrintER. Our research indicates we have a far more accurate assay than our competitors, which gives us
great confidence as we begin the final steps in monetizing this important technology.
more details about the planned demerger and spin out, please see the Company's Form 6-K filed with the U.S. Securities and
Exchange Commission on September 16 2020 and the Company's website http://www.tizianalifesciences.com/about-us/
Tiziana Life Sciences
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.
statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts
but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs;
and assumptions. Words such as anticipates,' expects,' intends,' plans,' believes,'
'seeks,' estimates,' and similar expressions are intended to identify forward-looking statements. These
statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors,
some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially
from those expressed or forecasted in the forward-looking statements. The Company cautions security holders and prospective security
holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the
date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which
the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking
statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required
by law or by any appropriate regulatory authority.
Cerrone, Chairman and founder
Financial Advisers LLP (Nominated adviser)
Securities Limited (Broker)
RedChip Companies Inc.