Tiziana Life Sciences Ltd. (NASDAQ:TLSA) said Thursday that it signed a memorandum of understanding to evaluate a combination therapy for patients with relapsing-remitting multiple sclerosis.

Following the announcement, the stock jumped by more than 21%.

The biotechnology company will collaborate with the King Abdullah International Medical Research Center and the Foundation for Neurologic Diseases.

Tiziana Targets Poor Response To Existing Therapy

The planned trial would evaluate foralumab in combination with existing anti-CD20 therapy. It would focus on patients who respond poorly to anti-CD20 treatment alone, potentially because of untreated neuroinflammation.

Tiziana said intranasal foralumab has reduced neuroinflammation in three clinical studies to date.

CEO Ivor Elrifi signed the agreement Wednesday, Sept. 16, at the Riyadh Global Medical Biotechnology Summit in Riyadh, Saudi Arabia.

Elrifi said the collaboration expands Tiziana's multiple sclerosis research into relapsing-remitting disease. However, it does not change the company's ongoing program for non-active secondary progressive multiple sclerosis.

Phase 2 Results Expected In October

Tiziana's Phase 2 trial in non-active secondary progressive multiple sclerosis remains blinded. The company expects results in October.

Foralumab is a fully human anti-CD3 monoclonal antibody designed to stimulate regulatory T cells when administered through the nose.

Fourteen patients have also received foralumab through an Expanded Access Program (NCT06802328). Tiziana said all showed either disease improvement or stability within six months.

The drug is also being evaluated in a randomized Phase 2a trial (NCT06292923).

TLSA Price Action: Tiziana Life Sciences shares were up 21.23% at $0.93 at the time of publication on Thursday, according to market data.