- Tiziana Life Sciences, a clinical stage biotechnology company developing targeted drugs for cancer and autoimmune diseases, has raised £825,000 in cash by the issue of 1,031,250 new ordinary shares at a price of 80p per share.

In addition, the company has issued 51,563 new ordinary shares credited as fully paid and 51,563 warrants exercisable at a price of 80p per share to intermediaries in lieu of commissions on the funds raised.

The company has undertaken a number of smaller fund raises over past year to provide it with its working capital requirement. As the company is at pre-revenue stage and engaged in research and development, it is reliant on raising further funds in the equity markets to provide it with its ongoing working capital requirement.

At 8:05am: [LON:TILS] Tiziana Life Sciences Plc share price was -0.25p at 81.75p

Story provided by