Tiziana Life Sciences plc ("Tiziana" or "the Company") Interim Results for the Six Months Ended 30 June 2021 Advancing pipeline of next generation therapeutics and diagnostics for oncology and immune diseases of high unm

Results for the Six Months Ended 30 June 2021

pipeline of next generation therapeutics and diagnostics for oncology and immune diseases of high unmet need

24 September 2021 - Tiziana Life Sciences plc ("Tiziana", LSE: TILS, NASDAQ: TLSA), a biotechnology company a biotechnology

company focused on innovative therapeutics for oncology, inflammation, and infectious diseases today announces its interim results for

the six months ended 30 June 2021.

Company continues to carefully manage its working capital position and continues the process, as referred to below, to evaluate opportunities

to raise further funds through the issue of additional equity capital.

view the complete Interim Accounts click here: https://ir.tizianalifesciences.com/financial-

information/interim-reports

Tiziana Life Sciences

Life Sciences plc is a dual listed (NASDAQ:TLSA, UK LSE: 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 COVID-19 patients.

CHAIRMAN'S STATEMENT

am pleased to report on the Group's financial results for the six months ended 30 June 2021. We have made strong progress advancing

our pipeline in the first half of the year.

are set to start a Phase 2 clinical trial in Brazil, , treating hospitalized, severe COVID-19 patients with intranasal foralumab, a fully

human anti-CD3 monoclonal antibody. This study, conducted in collaboration with FHI Clinical, will begin enrolling patients in November

2021. This randomized, placebo-controlled, double- blind, proof-of-concept study is designed to expand on the preliminary findings of

safety, tolerability and efficacy of intranasal administration of foralumab observed in mild to moderate non-hospitalized COVID-19 patient

trial that was completed earlier this year.

on positive results from treatment of an Expanded Access (EA) progressive MS patient with intranasal foralumab for three months at Brigham

and Women's Hospital, Boston, MA, we plan to enroll additional EA patients. We are also in discussions with VU Medical Center,

Amsterdam to conduct a Phase 1b, double blind, randomized, placebo-controlled study of intranasal foralumab in primary and secondary

progressive MS subjects.

successful completion of a Phase I trial in healthy volunteers using our novel oral enteric-coated capsule formulation of Foralumab,

Tiziana is collaborating with Parexel CRO to conduct a Phase 1b clinical trial in moderate to severe Crohn's disease patients.

to prepare and has submitted an IND to FDA. The multicenter trial will enroll subjects at US and EU clinical sites in Q4 2021.

are preparing a preIND meeting briefing package to submit to FDA for its anti-Interleukin-6-Receptor (TZLS-501), a fully human monoclonal

antibody, for the treatment of Interstitial lung disease associated with systemic sclerosis (SSc-ILD). We are planning tol submit an

IND by the end of 2021. If approved, we anticipate to initiate a Phase 1a, single ascending dose study to evaluate the safety and pharmacokinetics

of TZLS-501 in healthy volunteers in Q1 2022.

ahead, Tiziana is confident that it is well positioned to advance these programs to their next respective value inflection points.

Consolidated Statement of Comprehensive Income

months ended 30 June 2021

Consolidated Statement of Financial Position

Consolidated Statement of Cash Flows

Consolidated Statement of Changes in Equity -

for the six months ending 30 June 2021 and 30 June 2020

Consolidated Statement of Changes in Equity -

for the six months ending 30 June 2021 and 30 June 2020

Consolidated Statement of Changes in Equity -

ending 31 Decmber 2020

to the Interim Financial Statements

for the six month period to 30 June 2021

Life Sciences PLC is a public limited company incorporated in the United Kingdom under the Companies Act and quoted on the main market

of the London Stock Exchange (LSE: TILS). and on the NASDAQ Capital Market (NDAQ: TLSA). The principal activities of the Company and

its subsidiaries (the Group) are that of a clinical stage biotechnology company focussed on targeted drugs to treat diseases in oncology

financial statements are presented in thousands of pounds sterling ( '000) which is the functional currency of the primary

economic environment in which the Company operates.

principal accounting policies applied in the preparation of these consolidated interim financial statements are set out below. These

policies have been applied consistently to all the years presented unless otherwise stated.

interim consolidated financial statements of the Group and Company have been prepared in accordance with international accounting standards

in conformity with the requirements of the Companies Act 2006. These accounts have been prepared under the historical cost convention.

permitted by section 408 of the Companies Act 2006, a separate profit and loss account for the Company has not been presented in these

financial statements.

Group incurred losses during the year and has net assets at the year end.

Group is in the early stages of developing its business focusing on the discovery and development of novel molecules that treat human

disease in oncology and immunology. The directors expect the company to incur further losses and to require significant capital expenditure

in continuing to develop clinical stage development therapeutic candidates in both oncology and immunology. The company has successfully

funded clinical trials to date and is in the process of securing additional investment for purposes of continuing to fund their clinical

trials moving forward.

directors have prepared cash flow projections that include the costs associated with the continued clinical trials and additional investment

to fund that operation. On the basis of those projections, the directors conclude that the company will be able to meet its liabilities

as they fall due for the foreseeable future, and therefore that it is appropriate to prepare the financial statements under the going

concern basis of preparation.

until and unless the Group secures sufficient investment to fund their clinical trials, there is a material uncertainty about the Group's

ability to continue as a going concern, and therefore about the applicability of the going concern basis of preparation. The financial

statements do not include the adjustments that would be required if the going concern basis of preparation was considered inappropriate.

and Revised Standards

Standards in effect in 2021

in issue but not applied in the current financial statements

directors do not expect that the adoption of new IFRS Standards, Interpretations and Amendments that have been issued but are not yet

effective will have a material impact on the financial statements of the Group in future periods.

IFRS and IFRIC interpretations are also currently in issue which are not relevant for the Group's activities and which have not

therefore been adopted in preparing these financial statements.

undertakings are all entities over which the Group has the power to govern the financial and operating policies of the subsidiary and

therefore exercises control. The existence and effect of both current voting rights and potential voting rights that are currently exercisable

or convertible are considered when assessing whether control of an entity is exercised. Subsidiaries are consolidated from the date at

which the Group obtains control and are de-consolidated from the date at which control ceases.

to the Interim Financial Statements

for the six month period to 30 June 2021

consolidated position of the Group is as a result of the reverse acquisition of Alexander David Investments plc by Tiziana Pharma Ltd

and the subsequent listing of the Company as Tiziana Life Sciences Plc on 24 April 2014. Tiziana Pharma Limited was incorporated on 4

November 2013 and prepared its first set of financial statements to 31 December 2014. Therefore, the parent and subsidiary had the same

reporting date but Tiziana Pharma Limited had a long period of account. No adjustment was made in the consolidated financial statements

for the difference in length of reporting period because the only transaction in Tiziana Pharma Limited at 31 December 2013 was the issue

of ordinary share capital of 1.

transactions, balances and unrealised gains on transactions between group companies are eliminated upon consolidation. Unrealised losses