Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Tiziana Life Sciences (LON: TILS) shares have surged after the company and Precision BioSciences (NASDAQ: DTIL) announced an exclusive license agreement to explore Tiziana’s foralumab.
The companies will explore foralumab as a “fully human anti-CD3 monoclonal antibody (mAb), as an agent to induce tolerance of allogeneic CAR T cells to potentially improve the clinical outcome of CAR T cell therapy.”
The deal will see Precision gain an exclusive licence to use foralumab as a lymphodepletion agent in conjunction with its allogeneic CAR T therapeutics to treat cancers.
In addition, Precision will be responsible for the development, commercialisation, and costs for the use of foralumab, and Tiziana will receive an upfront payment, certain milestone payments, and royalties.
“We’re pleased to offer Precision the exclusive opportunity to explore foralumab, our fully human anti-CD3 monoclonal antibody, for use as a potential lymphodepletion strategy with their allogeneic CAR T programs,” said Kunwar Shailubhai, CEO and Chief Scientific Officer of Tiziana Life Sciences.
“We are impressed with Precision’s novel approaches to CAR T development, offering the potential for a meaningful off-the-shelf solution. Further, given Precision’s approach to manufacturing that produces CAR T cells virtually CD3-negative, we believe use of foralumab as a lymphodepletion or tolerizing agent has the potential, either alone or in combination with other co-stimulatory molecules, to improve the long-term success of CAR T in cancer treatment,” added Shailubhai.
Tiziana's London-listed shares are trading at 74.3p on Thursday, up 20.73%. Meanwhile, its Nasdaq listed shares are trading 17.5% above Wednesday's close at $1.94. Precision BioScience's stock price is up 4.46% at $14.30 premarket.
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