Tiziana Life seals deal with Novimmune

22nd Dec 2014 11:46

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.