Shares in biotechnology company Tiziana Life Sciences (TILS:AIM) rocketed 262% to 110p today on announcing a potential treatment for certain sufferers of coronavirus.

Chief executive Kunwar Shailubhai said: ‘We are excited to move forward with our clinical development plan to expedite evaluation in patients as soon as possible.’

Tiziana focuses on the discovery and development of novel molecules to treat human disease in oncology and immunology. The company’s TZLS-501 compound is directed at certain patients with coronavirus who develop an uncontrolled immune response which results in severe lung damage and possible respiratory failure.

The company plans to administer TZLS-501 using a proprietary formulation technology and entered into a world-wide licensing deal with Novimmune, a Swiss biotechnology company in 2017.

According to Tiziana, a recent Chinese study reported that coronavirus infection caused clusters of severe acute respiratory illness, which gives the firms compound ‘distinct advantages for treatment of coronavirus over other drugs such as Roche’s Actemra and Sanofi’s Kevzara.

The recent decision by researchers in China to add Actemra to treatment guidelines for coronavirus patients with serious lung damage is seen as confirming the potential for Tiziana’s TZLS-501.

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Issue Date: 11 Mar 2020