Tiziana Life Sciences Ltd (NASDAQ:TLSA) announced it has received non-dilutive funding of $3.4 million which will be used to advance its investigation therapy foralumab.
The company highlighted that foralumab is the only fully human anti-CD3 monoclonal antibody (mAb), which binds to the T cell receptor and dampens inflammation by modulating T cell function, therefore suppressing effector features in multiple immune cell subsets.
This effect has been demonstrated in patients with COVID and Multiple Sclerosis and normal subjects, it added.
“Tiziana is pleased to receive $3.4 million in non-dilutive funding to support our ongoing Phase 2 trial of intranasal foralumab in non-active secondary progressive Multiple Sclerosis (na-SPMS) as well as our work in Alzheimer’s Disease,” acting CEO Gabriele Cerrone commented.
“We continue to explore all avenues to pursue further non-dilutive funding in the near term.”