BOSTON, Massachusetts — January 16, 2026 — Leads & Copy — Tiziana Life Sciences, Ltd. (Nasdaq: TLSA) (“Tiziana”) has announced the pricing of a registered direct offering of 6,400,000 ordinary shares at $1.25 per share. The offering, conducted without an underwriter or placement agent, is to members of senior management and existing shareholders.
The biotechnology company expects total gross proceeds of $8.0 million before deducting offering expenses. Participants will receive one warrant for every ordinary share subscribed, allowing them to subscribe for one new ordinary share at $1.50 until July 16, 2026. This could result in additional gross proceeds of up to approximately $9.6 million. The offering is expected to close on January 16, 2026, pending customary closing conditions.
According to the company, the proceeds from the offering will enable Tiziana to complete Phase 2 clinical trials for na-SPMS and MSA, and achieve top line data readouts in both trials.
Tiziana’s CEO, Ivor Elrifi, led the offering by purchasing 2,400,000 ordinary shares, bringing his total holding to 2,757,848 ordinary shares. Executive Chairman and Founder Gabriele Cerrone purchased 1,600,000 ordinary shares through Panetta Partners Ltd, increasing his total holdings to 44,974,830 ordinary shares.
Tiziana is developing intranasal foralumab, a fully human, anti-CD3 monoclonal antibody, as its lead candidate. Foralumab stimulates T regulatory cells when administered intranasally.
Currently, 14 patients with Non-Active Secondary Progressive Multiple Sclerosis (na-SPMS) have been dosed in an open-label intermediate sized Expanded Access (EA) Program (NCT06802328) with either an improvement or stability of disease seen within 6 months in all patients. Intranasal foralumab is also being studied in a Phase 2a, randomized, double-blind, placebo-controlled, multicenter, dose-ranging trial in patients with non-active secondary progressive multiple sclerosis (NCT06292923).
The securities are being offered and sold under a shelf registration statement on Form F-3 (File No. 333-286064), filed with the SEC and declared effective on March 27, 2025. The offering is made via a prospectus supplement and accompanying base prospectus, potentially supplemented by free writing and/or pricing supplements filed with the SEC. The final prospectus supplement will be available on the SEC website.
Gabriele Cerrone, Founder and Executive Chairman of Tiziana Life Sciences said that the company is grateful to the shareholders for their support, and that their belief in Tiziana Life Sciences has been instrumental as the company pushes forward to topline data in their clinical trials in na-SPMS and MSA.
This announcement does not constitute an offer to sell or a solicitation of an offer to buy securities in any jurisdiction where such action would be unlawful.
Paul Spencer, Business Development, and Investor Relations
+44 (0) 207 495 2379
email: info@tizianalifesciences.com
Source: Tiziana Life Sciences
