Tiziana Life Sciences: Rises on plans to list asset as separate company

Tiziana Life Sciences

16/09/2020 11:52

** U.S.-listed shares of biotech co  TILST.L   TLSA.O  rise
16% to ~$4 premarket and are set for their best day in more than
a month 
    ** Company says it plans to spin out its breast cancer
technology asset, StemPrintER, into a separate and independently
listed public company called Accustem Sciences Limited
 urn:newsml:reuters.com:*:nGNXbyKBxj
    ** "We believe that we have not received the proper
valuation for the technology while it has been part of Tiziana,"
says Gabriele Cerrone, chairman of Tiziana
    ** Under the demerger deal, TLSA will provide the new entity
with $1.3 mln in cash    
    ** The UK-based company says Accustem Sciences will be
listed on the London Stock Exchange in late Q4 and plans to list
the new entity on Nasdaq in 2021
    ** U.S.-listed shares have more than tripled YTD 

 (Reporting by Dania Nadeem in Bengaluru)
 ((Dania.Nadeem@thomsonreuters.com; within U.S. +1 646 223 8780,
outside U.S. +91 80 6182 3463;))