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Tiziana trims cancer drug funding

Tiziana trims cancer drug funding

Shares in Tiziana Life Sciences (TILS) fell 13 per cent on the day that management announced it would be discontinuing funding of the pre-clinical development programme for one of its cancer drugs.

The cancer and immunotherapy specialist said it would cease funding for developing its B-cell Lymphoma 3 inhibitors, following a portfolio review. Instead, it will refocus efforts on other drug candidates, which Tiziana thinks have greater near-term potential to deliver value for shareholders. The group will retain all the intellectual property relating to the Bcl-3 programme and will work with the doctors behind the drug to examine the potential to develop the programme further with grant funding, management said.

IC VIEW:

Shares in Tiziana are down a tenth so far this year. With its projects a long way from commercialisation, making a value call remains difficult. This is too rich for our blood, and we stick with a hold.

Last IC View: Hold, 190p, 4 Oct 2016

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By Emma Powell,
15 June 2017

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