Tiziana Life Sciences Ltd announced that it has successfully closed an oversubscribed registered direct offering, raising $8.8 million through the sale of 7,040,000 ordinary shares at $1.25 per share. The transaction was executed on a company best efforts basis and was supported by existing shareholders, reflecting strong confidence in the company’s strategic direction and asset pipeline.

The offering was led by CEO Ivor Elrifi and Executive Chairman Gabriele Cerrone, who both participated significantly alongside other senior leaders and long‐standing institutional investors. This high‐level involvement accounted for approximately 35 percent of the offering, underscoring management’s commitment to the company’s clinical programs and alignment with shareholder interests.

In addition to the ordinary shares, investors received warrants exercisable for up to 8,448,000 new ordinary shares at the same subscription price of $1.25 per share, potentially generating an additional $10.56 million in future proceeds if fully exercised. These instruments carry a five‐year term and include customary anti‐dilution provisions.

Net proceeds from the financing will be directed toward advancing late‐stage clinical development of intranasal foralumab. Specifically, funds will support Phase 2 studies in non‐active secondary progressive multiple sclerosis (na-SPMS) and multiple system atrophy (MSA) patients, covering trial site initiation, patient recruitment, dosing supplies and biomarker analysis through interim data readouts expected in the second half of next year.