Tiziana to spin-off StemPrintER genomics-based business into new listed firm

UK biotech Tiziana Life Sciences (Nasdaq: AIM: TILS) today said it intends to demerge its StemPrintER and SPARE (togetherStemPrintER) genomics-based personalized medicine businesses into a separate company and effect a capital reduction to facilitate the spin-out and listing of StemPrintER as an independent entity.

Investor reaction was positive, with Tiziana’s share leaping 14.8% to 97.55 pence by mid-afternoon.

Following the company's recent announcement concerning the trial conducted by scientists from the European Institute of Oncology in Milan in collaboration with the Royal Marsden Hospital and Queen Mary University in London on the company’s stem cell biology-based genomic tool, StemPrintER, for the prediction of disease recurrence in breast cancer patients, the company’s board, which has been considering options for StemPrintER for some time, considers that the results of the trial and the progress made substantiate the viability of StemPrintER as having the potential to be a standalone business and accordingly intend to proceed with steps for a spin-out, by way of demerger, and listing on a public market of a new independent genomics-based personalized medicine company focused on the StemPrintER business.