BullsEye Insights

BullsEye: Daily London AIM RNS Round-Up

Thursday 9 April 2020

Here is our summary of the day's hottest RNS alerts from across London's Alternative Investments Market (AIM).

Tiziana Life Sciences PLC (TILS.L)

1) Tiziana Develops Treatment For COVID-19 Patients

Tiziana Life Sciences plc, a biotechnology company focused on innovative therapeutics for inflammatory and autoimmune diseases, announced today that it has developed investigational new technology to  treat COVID-19 infections, which consists of direct delivery of anti-IL-6 receptor (anti-IL-6R) monoclonal antibodies (mAbs) into the lungs using a handheld inhaler or nebulizer.

Development of this novel technology is a step forward toward expediting  development of  TZLS-501, a fully-human anti-interleukin-6 receptor(anti-IL6R) monoclonal antibody (mAb) for treatment of patients infected with COVID-19 (SARS-CoV-2)coronavirus.  The Company believes the technology could also be applicable for use with other FDA approved mAbs and drugs.  The Company has submitted a provisional patent application for the delivery technology.

Excessive production of IL-6 is regarded as a key driver of chronic inflammation and is believed to be associated with the severe lung damage commonly observed with COVID-19 infections andacute respiratory distress syndrome (ARDS).  Tiziana believes TZLS-501 (anti-IL6R) combined with this newly introduced inhalation technology may rapidly inhibit inflammation in lungs and in combination with intravenous administration may deplete circulating levels of IL-6 and potentially halt progression of COVID-19-mediated lung damage and death.

For the full RNS, see: https://www.investegate.co.uk/tiziana-life-sci-plc/rns/tiziana-develops-treatment-for-covid-19-patients/202004090700042920J/

2) Tiziana Lifesciences Develops Novel Investigational Treatment For Patients Infected with COVID-19

The company also released a second RNS informing investors that it has filed patent application in support of treatment of COVID-19 utilizing anti-IL6R via inhaled delivery.

For the full RNS, see: https://www.investegate.co.uk/tiziana-life-sciences/gnw/tiziana-lifesciences-develops-novel-investigational-treatment-for-patients-infected-with-covid-19-utilizing-direct-delivery-of-anti-interlukin-6-receptor-monoclonal-antibodies/20200409070010H1430/

Silence Therapeutics Plc (SLN.L)

Silence Therapeutics Announces COVID-19 Partnership 

Silence Therapeutics plc, a leader in the discovery, development and delivery of novel RNA therapeutics for the treatment of serious diseases, today announces that it has repurposed equipment in its Berlin site to produce critical reagents for COVID-19 PCR diagnostic test kits, which are currently in short supply. We are doing this work on a cost only basis for TIB Molbiol GmbH, based in Berlin, and believe the use of our specialist equipment will significantly increase their capacity to produce test kits on short notice and with high demand for global distribution.

For full RNS details, see: https://www.investegate.co.uk/silence-therapeutics--sln-/rns/silence-announces-covid-19-partnership/202004090700062865J/

Essensys Plc (ESYS.L)

Proposed placing to raise approximately £7 million

Essensys Plc, the leading global provider of mission critical software-as-a-service ("SaaS") platforms and on-demand cloud services to the flexible workspace industry, today announces a placing of 4,635,762 new ordinary shares of 0.25 pence each in the capital of the Company at a price of 151p per Placing Share to raise gross proceeds of approximately £7 million.

  • The Company intends to use the net proceeds of the Placing to increase balance sheet liquidity and flexibility amidst the uncertainty caused by the Covid-19 pandemic and provide funds to take advantage of longer-term opportunities once this situation stabilises.

  • The Placing is to be conducted by way of an accelerated bookbuild process (the "Bookbuilding Process") by the Company's nominated adviser, sole broker and sole bookrunner, Nplus1 Singer Advisory LLP ("N+1 Singer") , which process will be launched in accordance with the terms and conditions set out in this announcement, immediately following this Announcement (as defined below).

  • The Placing Price represents a discount of approximately 4.1 per cent. to the closing middle market price per Ordinary Share of 157.5 pence on 8 April 2020, being the last practicable trading day prior to release of this Announcement.

  • The Placing Shares, assuming full take-up, will represent approximately 9.64 per cent. of the Company's existing issued share capital.

  • The final number of Placing Shares to be placed will be determined by N+1 Singer, in consultation with the Company, at the close of the Bookbuilding Process and the result will be announced as soon as practicable thereafter. The timing for the close of the Bookbuilding Process and the allocation of the Placing Shares thereunder, will be determined by N+1 Singer in consultation with the Company.

  • The Placing is not being underwritten.

  • The appendix to this Announcement (which forms part of this Announcement) contains the detailed terms and conditions of the Placing.

Essensys plc also annouced earlier today in the Group's unaudited half year financial statements for the six months ended 31 January 2020, the Group made good progress during the first half of its financial year growing total revenue by 19 per cent. to £11.4 million and generating Adjusted EBITDA1of £1.9m, in line with management's expectations. The Interim Results Announcement outlined that the second half of the year had started well with trading in line with expectations as customers continued to deliver contracted Connect sites as planned.

In light of the Covid-19 pandemic, the Group has undertaken forecast sensitivity analysis in which a number of downside scenarios have been modelled.  In order to increase liquidity and provide additional flexibility in the event that one or more of these scenarios should materialise, the Group is therefore seeking to raise approximately £7 million (before expenses) through the Placing. The Board considers that this will help underpin customer confidence and further demonstrate the Group's capacity for continued long term investment and growth.

The Board remains confident in the structural growth drivers in the industry and the opportunities that exist for essensys as an increasing number of global landlords and commercial real estate companies enter the market increasing the number of potential customers. The Board therefore believes that, as and when the Covid-19 situation stabilises, the net proceeds from the Placing (to the extent that they are not required to provide additional liquidity) can be deployed within the business to accelerate the Group's long-term growth strategy and take advantage of the opportunities in its markets.

For full RNS details, see: https://www.investegate.co.uk/essensys-plc/rns/proposed-placing-to-raise-approximately--7-million/202004090701033380J/

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