# Cizzle Biotechnology raises £500,000 to support US lung cancer test adoption

- Link: https://www.directorstalkinterviews.com/cizzle-biotechnology-raises-500000-to-support-us-lung-cancer-test-adoption/4121267778
- Published: 2026-10-26T07:03:00+00:00
- Author: Amilia Stone

**Cizzle Biotechnology Holdings plc **(LON:CIZ), the UK based diagnostics developer
of early cancer tests, announces that it has conditionally raised £500,000, before
expenses, by way of direct subscription by Frazer Lang, an existing shareholder 
of the Company for a total of 62,500,000 new ordinary shares of £0.0001 each in 
the Company at a price of 0.8 pence per new Ordinary Share.

The Subscription Shares will be subscribed for in two tranches, each at the Issue
Price. The Investor has subscribed £300,000 for 37,500,000 Subscription Shares, 
with admission expected to become effective on or around 30 October 2026 and £200,000
for 25,000,000 Subscription Shares, with admission expected to become effective 
on or around 6 January 2027.

The funds are to support the Company’s programme in delivering early sales adoption
of its proprietary CIZ1B Biomarker Blood Test for Lung Cancer, through its licensing
strategy in the USA and in partner agreements in the UK and elsewhere.

**Highlights**

 * Subscription to raise £500,000 through the issue of 62,500,000 Subscription Shares
   at the Issue Price, of which:
    - 37,500,000 Subscription Shares will be issued on or around 30 October 2026,
      raising £300,000; and
    - 25,000,000 Subscription Shares will be issued on or around 6 January 2027,
      raising a further £200,000.

 * Issue of one warrant over Ordinary Shares to the Investor for each Subscription
   Share subscribed for, with an exercise price of 1.2p, resulting in the grant 
   of 62,500,000 new warrants.  The New Warrants have an expiry date of 1 October
   2031.
 * Amendment to the existing 22,500,000 warrants previously issued to the Investor
   so they are exercisable at 1.2p and expire on 1 October 2031;
 * Conversion of £250,000 of outstanding convertible loan notes issued to the Investor
   on 2 April 2026 at a conversion price of 1.4p, resulting in the issue of 17,857,143
   new Ordinary Shares, with such shares to be issued on or around 30 October 2026;
 * The funds raised will be used, inter alia, to provide working capital for the
   Company to promote adoption of the test in the USA, and to progress partner agreements
   in the UK, including with the NHS, and elsewhere.

**Background**

On 22 July 2026, the Company announced that following the validation of the Company’s
proprietary CIZ1B Biomarker Blood Test for Lung Cancer, its licensing partner Cizzle
Bio Inc made the test available for sale to licensed healthcare providers across
the Dallas-Fort Worth and San Antonio metropolitan areas in Texas, through its laboratory
partner, OmniHealth Diagnostics, a Clinical Laboratory Improvement Amendments certified
and Commission on Office Laboratory Accreditation accredited clinical services laboratory.

Because the CIZ1B Biomarker test is a laboratory-developed test, each CLIA-certified
laboratory performing the test must complete independent validation to verify analytical
performance and meet rigorous quality standards. To enable early, rapid and resilient
sales progress, on 3 August 2026 BIO, announced it had executed a further laboratory
agreement with BioBridge Global, a San Antonio-based healthcare services organisation
with expertise in laboratory medicine, biomanufacturing, blood banking and translational
science.

The Company announced on 15 October 2026, that it had reached a new agreement with
BIO that converts all of the advanced royalty payments made to date to an upfront
or milestone non-refundable payment, and to spread the remaining advanced guaranteed
payments over the period ending 31 December 2027. The new payment schedule replaces
the existing payment schedule announced on 23 February 2026 and is expected to enable
the Company to recognise any advance royalties paid as sales revenue in the current
period. The new payment schedule aligns the Company’s and BIO’s investment strategy
to advance commercialisation and expand US nationwide access to the CIZ1B biomarker
blood test, particularly in regions facing a significant lung cancer burden and 
health disparities.

**Details of the Subscription**

The Company has conditionally raised £500,000, before expenses, through the issue
of the Subscription Shares to the Investor at the Issue Price. The Subscription 
is conditional, _inter alia_, upon Admission of the First Tranche becoming effective
on or around 30 October 2026 and Admission of the Second Tranche becoming effective
on or around 6 January 2027. The proceeds for each tranche of the Subscription will
be paid by the Investor ahead of each respective admission.

The Second Tranche is also conditional upon, _inter alia_, there being no material
adverse change in the business, assets or financial condition of the Company, the
Company complying with certain undertakings under the Subscription agreement, the
Ordinary Shares remaining admitted to listing and trading on the Main Market of 
the London Stock Exchange, and no insolvency event occurring in relation to the 
Company.

Accordingly, if the conditions applicable to either tranche are not satisfied, or,
if applicable, waived, the relevant tranche will not proceed. The Subscription is
not underwritten. The Subscription will result in the issue of 62,500,000 Subscription
Shares in aggregate. The Subscription Shares will represent, in aggregate, approximately
12.37% of the enlarged share capital after the admission of the Subscription Shares
and the CLN Conversion Shares. The Subscription Shares, when issued and fully paid,
will rank _pari passu_ in all respects with the existing Ordinary Shares and therefore
rank equally for all dividends or other distributions declared, made or paid after
the date of issue of the Subscription Shares.

Under the terms of the Subscription agreement, the Company has agreed that, until
completion of the Second Tranche, it will not, without the Investor’s prior written
consent, incur financial indebtedness or grant security, enter into certain equity
financing arrangements with pricing linked to future market prices, or amend or 
waive its rights or obligations under its agreements with Cizzle Bio Inc.

The Company has also agreed that, for a period of 12 months, it will notify the 
Investor of any proposed equity fundraising and afford the Investor the opportunity
to fund the fundraising in full or participate on the same terms as other investors.

**Grant of New Warrants**

In connection with the Subscription, the Company has agreed to grant the Investor
one warrant over an Ordinary Share for each Subscription Share subscribed for, resulting
in the grant of 62,500,000 New Warrants. The New Warrants will be exercisable at
1.2 pence per Ordinary Share and will expire on 1 October 2031. 25,000,000 of the
New Warrants are conditional on admission of the Second Tranche Subscription Shares.

**Variation to Existing Warrants**

The Company has also agreed to vary the terms of the 22,500,000 Existing Warrants
previously issued to the Investor. The exercise price for 12,500,000 of the Existing
Warrants has been amended from 2 pence to 1.2 pence per Ordinary Share and the exercise
price for 10,000,000 of the Existing Warrants has been amended from 2.5 pence to
1.2 pence per Ordinary Share and the expiry date has been extended to 1 October 
2031. All other terms of the Existing Warrants remain unchanged.

**Conversion of CLNs**

The Company has also received a notice to convert £250,000 of CLNs held by the Investor.
The Company announced on 2 April 2026 that it had entered into a facility to provide
the Company with up to £250,000 through the potential issue of further unsecured
convertible loan notes to the Investor. The Facility Notes were drawn down, at the
sole election of the Company, as to £100,000 on 1 May 2026, £100,000 on 1 June 2026
and £50,000 on 1 July 2026. The Facility Notes are convertible at 1.4 pence per 
Ordinary Share at any time up to 30 October 2026. The Investor has requested the
conversion of these CLNs at the time of the Subscription, which will result in the
issue of 17,857,143 CLN Conversion Shares. On conversion, the Investor will not 
hold any CLNs.

**Admission and Total Voting Rights**

Application will be made for a total of 55,357,143 new Ordinary Shares, comprising
the First Tranche Subscription Shares and the CLN Conversion Shares, to be admitted
to trading on the Main Market of the London Stock Exchange and to listing on the
FCA Official List. It is expected that the issue of the New Shares will take place,
Admission will become effective and that dealings in the New Shares on the Main 
Market of the London Stock Exchange will commence on or around 30 October 2026. 
On Admission, the Company will have 480,320,345 Ordinary Shares in issue, each with
one voting right. There are no shares held in treasury. Therefore, the Company’s
total number of Ordinary Shares and voting rights will be 480,320,345 and this figure
may be used by shareholders from Admission as the denominator for the calculations
by which they will determine if they are required to notify their interest in, or
a change to their interest in, the Company under the FCA’s Disclosure Guidance and
Transparency Rules.

> **Commenting, Allan Syms, Executive Chairman of Cizzle Biotechnology, said:**
> _“With our CIZ1B Biomarker test for early lung cancer detection validated in a
> CLIA accredited laboratory in the USA, the Company now wishes to invest in early
> adoption and the establishment of a leading position in early lung cancer diagnosis.
> Once again, I am pleased to announce that our long-standing investor Frazer Lang
> continues to support the Company in delivering its strategy as a global licensing
> business. We will continue to bring novel solutions to detect lung cancer at an
> early stage potentially preventing suffering and saving many lives. I look forward
> to reporting further progress in due course.”_

> **Commenting, Frazer Lang said:**
> _“__I have backed Cizzle for several years because of what the CIZ1B test can 
> do for patients. It has taken longer than any of us expected to reach this point,
> but the test is now validated and available to physicians in the United States,
> and the task now is adoption. That needs funding, and I am pleased to provide 
> it. I will continue to support the Company as it builds the commercial base in
> the US and progresses the opportunities here in the UK.”_

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