26th Jan 2015 07:00
Tiziana Life Sciences plc
Grant of Options
London, 26 January 2015 - Tiziana Life Sciences plc ("Tiziana" or the "Company", AIM: TILS), the clinical stage biotechnology company focused on targeted drugs to treat diseases in oncology and immunology, announces that it has granted, in aggregate, 3,550,000 options to subscribe for ordinary shares in the Company to certain directors and employees. Details of the options and corresponding vesting conditions are set out in the table below.
Number of options issued | Exercise price | Total number of options held | % of current issued ordinary share capital
| ||
Gabriele Cerrone | 2,000,000 1 | 35p | 3,200,000 | 3.60% | |
Philip Boyd | 300,000 1 | 35p | 1,237,500 | 1.39% | |
Riccardo Dalla Favera | 50,000 1 | 50p | 420,000 | 0.47% | |
Kunwar Shailubhai | 300,000 2 | 50p | 300,000 | 0.34% | |
Employees / consultants | 900,000 2 | 50p | 3,615,000 | 4.07% | |
Total | 3,550,000 | 8,772,500 | 9.87% |
1 All of these options vest immediately and are exercisable at any time until the tenth anniversary of the vesting date, being 26 January 2025
2 25% of each award of options shall vest on each of the first four anniversaries of the date of that individual's appointment
Contacts:
Tiziana Life Sciences plc Philip Boyd, CFO | +44 (0)20 7493 2853 |
Cairn Financial Advisers LLP (Nominated adviser) Liam Murray / Avi Robinson | +44 (0)20 7148 7900 |
Beaufort Securities Limited (Broker) Saif Janjua | +44 (0)20 7382 8300 |
FTI Consulting 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's lead asset is foralumab, the only fully human engineered anti-human CD3 antibody in clinical development. This phase II asset has potential application in a wide range of autoimmune and inflammatory diseases, such as 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' research team has discovered that Bcl-3 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. Tiziana 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.
Earlier this month, the Company entered into an exclusive licence from Nerviano Medical Centre relating to Milciclib which blocks the action of specific enzymes called cyclin-dependent kinases involved in cell division as well as a number of other protein kinases. Milciclib is currently in phase II clinical trials for thymic carcinoma in patients previously treated with chemotherapy.
Related Shares:
TILS.L