Tiziana Life Sciences PLC (LON:TILS NASDAQ:TLSA) said its former subsidiary Accustem Sciences Limited intends to list on Nasdaq.
The listing will follow shortly after the completion of the distribution of shares in Accustem to Tiziana's shareholders and reflects a belief by the directors that Nasdaq is the most appropriate market given the nature of its business.
Accustem Sciences' products are StemPrintER, a multi-gene prognostic assay intended to predict the risk of recurrence of R+/HER2- breast cancer, and Spare, a derivative of StemPrintER that gives a more refined risk model.
These assays are intended for the prediction of the risk of recurrence of breast cancer, based on the detection of 20 stem cell markers.
A poster presented at the American Society of Clinical Oncology (ASCO) Virtual Conference in May 2020 demonstrated the superiority of StemPrintER stem cell-based genomic prognostic tool versus the market leader in predicting recurrence in ER+/HER2- postmenopausal breast cancer patients.
Accustem anticipates its prognostic test will be used in conjunction with clinical evaluation to identify those patients at increased risk for early and/or late metastasis.
Tiziana flagged the demerger of Accustem last September.
At the time, Tiziana said it would receive the breast cancer diagnostic StemPrintER and the Spare genomics-based personalised medicine business plus cash reserves of around £1mln with Accustem then to allot shares on a one-for-one basis to Tiziana investors.