- Biotech company Tiziana shares soared over 17 per cent over an exclusive licensing agreement.
- The deal inked with US based biotech firm Precision BioSciences aims to evaluate the effectiveness of formulab, an anti-CD3 antibody, in cancer treatment.
Dual listed biotechnology company Tiziana Life Sciences PLC (LON: TILS) (NASDAQ: TLSA) inked a new and exclusive licensing agreement with US based pharmaceutical firm Precision BioSciences Inc to evaluate Tiziana’s anti-CD3 antibody formulab for cancer treatment.
The company’s shares soared by around 18 per cent following the news.
Tiziana Life Sciences (LON: TILS) share price performance
Tiziana Life Sciences PLC’s shares were trading at GBX 72.50, up by 17.89 per cent on 2 September at 10:36 HRS GMT+1. Meanwhile the healthcare and related services sectoral index was trading at 7,989.53, down by 0.07 per cent.
(Image Source: Refinitiv)
The company’s market cap stands at £119.69 million as of 2 September 2021.
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Tiziana Life Sciences’ licensing agreement details
Tiziana signed an exclusive licensing deal with biotech firm Precision BioSciences today. The deal aims to evaluate the effectiveness of formulab, a human anti-cluster of differentiation (CD3) monoclonal antibody (mAb), in order to create tolerance of allogenic Chimeric antigen receptor T cells (CAR T).
Inducing tolerance can have the potential benefit of increasing the clinical outcomes of CAR T cell therapy in cancer treatments.
Tizania is set to receive upfront payments and milestone related and other types of payments based on achieving certain milestones and certain other factors, as per the agreement. Whereas, Precision is expected to bear the development and commercial costs of using formulab.
Formulab is the only fully human anti-CD3 mAb that reduced cytokines, small size proteins controlling the growth and activity of individual’s immune cells, compared to other CD3 mAbs.
Investors keen to have exposure to fast growing stocks in the pharma sector can consider this penny stock with an innovative solution in the biotech sector. Tizania is currently trading well below 64 per cent from its 52-week high of GBX 206.00, indicating significant upside potential.
However, as penny stocks inherently carry a higher degree of risk, investors must consider the extent of exposure they are willing to take.