REG - Cizzle Biotechnology - £150,000 Convertible Loan Note Issue

Cizzle Biotechnology HoldingsAnnouncement

20/05/2025 07:00

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RNS Number : 2773J  Cizzle Biotechnology Holdings PLC  20 May 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
EU REGULATION 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("EUWA")) ("UK MAR")

20 May 2025

Cizzle Biotechnology Holdings plc

 

("Cizzle", "Cizzle Biotechnology", or the "Company")

 

£150,000 Convertible Loan Note Issue

Cizzle Biotechnology, the UK based diagnostics developer of early cancer
tests, announces that it has raised £150,000 through the issue of a
convertible loan note (the "Note"), to provide additional funding to support
the Company's growth strategy, in particular to roll out its CIZ1B early
cancer test in the UK and elsewhere in Europe following the successful
licensing agreement with Cizzle Bio Inc ("BIO") in North America.

The Note, which has been subscribed for by Frazer Lang, an existing investor
in the Company, is convertible at any time, at the election of the Note
holder, during its 24 month term into new ordinary shares in the Company at a
price of 1.4 pence per share. No interest is payable on the Note.

Background

 

The Company's commercial strategy is to licence globally its proprietary test
for the CIZ1B biomarker for use in the early detection of lung cancer.
 Having secured the Company's first licence agreement with BIO for North
America and the Caribbean, BIO has already established partnerships with
specialist clinical laboratories and hospitals to enable market penetration
and make the test available to as many clinicians and patients as possible.
The agreement with BIO provides the Company with guaranteed royalties and
up-front fees of US$2.4 million, of which US$400,000 has already been
received, as well as a future equity stake in BIO.  The next payment of
US$250,000 is expected at the end of July 2025 as a result of securing BIO's
first hospital contract in the Caribbean.

 

The discovery and development of the CIZ1B biomarker test is the result of
many years of pioneering work by Professor Dawn Coverley, the Company's
founder and CSO, and her research team at the University of York.  Initially
supported by various UK research grants it has always been the ambition to
ensure patients and healthcare professionals in the NHS and elsewhere should
benefit from the Company's work in early cancer detection as part of its
commercial roll out plans.

 

The current NHS cancer plan aims to dramatically improve cancer survival by
increasing the proportion of cancers diagnosed at stages 1 and 2 from half to
three-quarters by 2028.  This shift towards earlier diagnosis is expected to
save 55,000 additional lives per year by 2028.  The plan focuses on improving
access to diagnosis and treatment, raising awareness of cancer symptoms, and
increasing the number of cancers identified through screening, including
personalised and risk-stratified approaches.

 

The Company's focus is to appoint further accredited facilities globally, with
the focus now on the UK and Europe, to launch the commercially scalable CIZ1B
biomarker test to help reduce premature cancer deaths and improve survival
rates and quality of life for cancer patients.

 

Commenting, Allan Syms, Executive Chairman of Cizzle Biotechnology, said:

 

"Following the success of the Company's licensing strategy in North America,
we are now keen to build partnerships in the UK and elsewhere in Europe.  The
CIZ1B biomarker and its use in early cancer diagnosis was the result of many
years of research and development by Professor Coverley, the Founder and CSO
of the Company, and her research team at the University of York, and we want
to ensure this innovation also brings benefit to patients in the UK delivered
through the NHS and other healthcare providers.  The new funding provided by
Frazer Lang, a long standing and supportive shareholder, will now allow us to
bring forward our plans to make the test available to patients in the UK."

 

Commenting, Frazer Lang said: "As a dedicated supporter of the Company's
mission to reduce lung cancer's impact through early detection with a simple,
cost-effective blood test, I'm proud to provide additional funding to
accelerate our efforts to benefit UK patients.  This investment builds on my
family's existing stake, increasing our shareholding to 12.87% once the Note
is converted.  We are wholeheartedly committed to the Company's success and
to saving lives."

 

Enquiries:

 

 Cizzle Biotechnology Holdings plc  Via IFC Advisory
 Allan Syms (Executive Chairman)

 

 Allenby Capital Limited                                       +44(0) 20 3328 5656
 John Depasquale / Piers Shimwell (Corporate Finance)
 Stefano Aquilino / Amrit Nahal (Sales and Corporate Broking)

 

 IFC Advisory Limited            +44(0) 20 3934 6630
 Tim Metcalfe
 Florence Chandler

 

About Cizzle Biotechnology

 

Based on the pioneering work of Professor Coverley and colleagues, on a
naturally occurring variant of the cell nuclear protein CIZ1, the CIZ1B
biomarker is highly associated with the presence of early-stage cancer. The
company has developed CIZ1B into a non-invasive, cost-effective blood test to
help in the early detection of lung cancer and has now entered commercial
royalty-bearing arrangements to license its proprietary technology, and into
collaborations with centres of excellence in cancer care.  Cizzle was
admitted to the Standard segment of the main market of the London Stock
Exchange in May 2021.

 

For more information, please see https://cizzlebiotechnology.com
(https://cizzlebiotechnology.com)

 

You can also follow the Company through its twitter account @CizzlePlc and on
LinkedIn.

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