The Company has completed a placing of 22,000,000 new ordinary shares at 10p per share to raise gross proceeds of £2.2 million. The Board intends to apply a majority of the net proceeds of the Placing towards the development of the C1Z1B biomarker test through to CE marking and/or FDA 510(k) clearance.
Cizzle Biotechnology is in the early stages of developing a blood test for the early detection of a majority of the different forms of lung cancer. Its proof-of-concept prototype test is based on the ability to detect a stable plasma biomarker, a variant of C1Z1 known as CIZ1B. C1Z1 is a naturally occurring cell nuclear protein involved in DNA replication, and the targeted C1Z1B variant is highly correlated with early stage lung cancer.
Cizzle Biotechnology is a spin-out from the University of York and was initially funded by Yorkshire Cancer Research, White Rose Technology Seed Corn Fund, Finance Yorkshire Seedcorn LLP and Viking Members, who with management, invested in the project to support the development of a prototype blood test.
We were very pleased with the Capital Markets team at PKF on our admission to the Main Market. We wanted to work with a reporting accountant with significant experience in Capital Markets. PKF’s expertise and proactive support were important factors in enabling us to complete the acquisition and admission. Nigel Lee – FD | Bould Opportunities plc