Tiziana Life Sciences Ltd. (NASDAQ: TLSA) reported that the results of its open‑label study of intranasal foralumab in patients with non‑active secondary progressive multiple sclerosis (na‑SPMS) were published in the peer‑reviewed journal Neurology Neuroimmunology & Neuroinflammation on January 20, 2026. The study enrolled 10 na‑SPMS patients and found that every participant experienced disease stabilization or improvement within six months, with no new MRI lesions and no serious treatment‑related adverse events. Advanced imaging and immune profiling revealed reduced microglial activation and increased regulatory T‑cell activity, directly supporting the drug’s proposed mechanism of action.
Tiziana’s intranasal delivery platform is designed to target the central nervous system while minimizing systemic immunosuppression, a key differentiator in the multiple‑sclerosis therapeutic landscape. The publication provides external validation of the platform and the drug’s safety profile, which has been demonstrated across 37.4 patient‑years of exposure in earlier studies with no drug‑related serious adverse events.
The company is currently advancing foralumab in a randomized, double‑blind, placebo‑controlled Phase 2 trial in na‑SPMS, with top‑line data expected in the first half of 2026. In parallel, Tiziana is initiating Phase 2 studies in Alzheimer’s disease, multiple system atrophy, and amyotrophic lateral sclerosis, positioning foralumab as a potential disease‑modifying therapy across several neurodegenerative indications.
Management highlighted the significance of the findings: “We are incredibly excited by these results, which validate the potential of nasal foralumab to fundamentally shift the treatment paradigm for progressive MS,” said CEO Ivor Elrifi. The company’s leadership emphasized continued investment in the Phase 2 program and the broader pipeline as a strategy to accelerate clinical development and secure future commercial opportunities.
On January 16, 2026, Tiziana closed an $8.8 million registered direct offering and announced a separate offering of up to $17.6 million to fund the Phase 2 trials. The capital raise underscores investor confidence and provides the necessary runway to advance the program and support the company’s broader research agenda.
The positive peer‑reviewed data, combined with the recent capital raise and the company’s expanding pipeline, strengthen Tiziana’s competitive position in the limited treatment space for progressive multiple sclerosis and reinforce its strategy of leveraging intranasal delivery to achieve targeted CNS exposure with a favorable safety profile.
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