A UK- based biotechnology company is to re-domicile to Bermuda.

Tiziana Life Sciences plc confirmed that it has re-activated its strategic plan to re-domicile to the island following the company’s annual general meeting held earlier yesterday.

The company said shareholders will receive further information in due course.

Tiziana said it is a UK biotechnology company that focuses on the discovery and development of novel molecules to treat human disease in oncology and immunology.

In addition to Milciclib, a CDK inhibitor being developed in oncology, the company said it is also developing Foralumab in Covid-19, multiple sclerosis, and Crohn’s disease.

It added that Foralumab is the only second generation fully human anti-CD3 monoclonal antibody in clinical development in the world.

Tiziana said this Phase 2 compound has potential application in a wide range of autoimmune and inflammatory diseases, such as nonalcoholic steatohepatitis (NASH), ulcerative colitis, multiple sclerosis, type-1 diabetes (T1D), Crohn's disease, psoriasis and rheumatoid arthritis, where modulation of a T-cell response is desirable.

The company said it is accelerating development of anti-Interleukin 6 receptor (IL6R) mAb, a fully human monoclonal antibody for treatment of IL6-induced inflammatory pulmonary diseases.