Tiziana Life seals deal with Novimmune

Tiziana Life Sciences has been granted an exclusive license to develop and commercialise Novimmune SA's CD3 receptor monoclonal antibody foralumab.

Foralumab can be utilised for a range of autoimmune and inflammatory diseases, such multiple sclerosis, type-1 diabetes, inflammatory bowel disease, psoriasis and rheumatoid arthritis, the group said in a statement.

"This is a transformational deal for Tiziana that broadens our pipeline, immediately converting us to a clinical stage company,” said group chief executive Gabriele Cerrone.

“Foralumab, our new lead pipeline asset, has broad potential applications in a number of important multi-billion dollar markets.

"We look forward to updating the market in the coming months as we evaluate how we wish to progress this exciting molecule."

Tiziana shares rose 7.14% to 52.50p at 11:43 on Monday.