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NASDAQ:TLSA | LSE:TILS
In the fall of 2020, Tiziana Life Sciences PLC (NASDAQ:TLSA) (LSE:TILS) announced its intent to spin off its StemPrintER asset into a separate entity, Accustem Sciences Limited. The demerger took place at the end of October and distribution of shares occurred on October 30, 2020. For each share of Tiziana, a share of Accustem Sciences was issued to Tiziana shareholders. Since then, the shares have been privately held with plans to be listed later on a public exchange. In a press release published yesterday, Tiziana updated investors on its plans, indicating that Accustem Sciences will be listed on the Nasdaq Stock Market exchange. The listing is expected to transpire during the third quarter and will provide additional liquidity and price transparency to investors.
Accustem holds the StemPrintER asset, which is a multi-gene, prognostic assay intended to predict the recurrence of estrogen receptor positive, human epidermal growth factor 2-neu negative (ER+/HER2-) breast cancer, the most common subtype. The test is able to detect 20 cancer stem cell markers and has been evaluated in ~2,400 breast cancer patients. Two StemPrintER posters were presented at the American Society for Clinical Oncology (ASCO) conference in 2020 with favorable results compared with competing diagnostics. A next generation model, named SPARE (StemPrintER for Personalized Adjuvant Therapy in Endocrine Receptor-Expressing Patients) has been able to build on the success of StemPrintER and provides even greater accuracy in predicting recurrence. The additional accuracy of these tests will enable clinicians to tailor their prescribed therapy more precisely to patients’ needs.
Accustem is in the process of obtaining the CE Mark in Europe and anticipates commercializing the diagnostic in this region after the mark is granted. FDA approval will also be sought, providing access to US markets as well.
We initiated on Tiziana earlier this week highlighting our thesis for the company and its technology that allows for oral, nasal and inhaled administration of antibodies. The company is pursuing multiple indications in autoimmune diseases and cancer. We value the two leading programs that are targeting progressive Multiple Sclerosis and Crohn’s Disease. See our Tiziana initiation here for details.
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