Cizzle Biotechnology Holdings plc (LON:CIZ), the UK based diagnostics developer of early cancer tests, has announced that it has entered into a new facility to provide the Company with up to £250,000 through the potential issue of further unsecured convertible loan notes to Frazer Lang, an existing investor in the Company.
The Facility provides the Company with access to funds to be used if required to support its future commercial growth strategy. This is specifically the commercial launch of the Company’s CIZ1B biomarker test in North America to help in early-stage lung cancer detection, to facilitate the roll out of the test in the UK and elsewhere in Europe, and to further its collaboration and clinical evaluations with the Moffitt Cancer Center in Florida, USA.
On 18 May 2025, the Company secured funding of £150,000 through the issue of convertible loan notes to Frazer Lang. This was extended though the issue of further convertible loan notes of £250,000 on 5 November 2025, convertible at any time up to 31 March 2026, at the election of the Note Holder, into new ordinary shares of 0.01p in the Company at a price of 1.4 pence per Ordinary Share.
The Company has now completed the draw down of these funds totalling £400,000. At the time of securing the Additional Notes, the Company announced that prior to 31 March 2026 the Company did not intend to incur any debt or make any adjustments to its share capital while the Additional Notes were outstanding. This restriction has now ended.
The Facility Notes, if issued, will be issued as a further extension to the Company’s existing unsecured convertible Original Notes and Additional Notes and can be drawn down, at the sole election of the Company as to £100,000 on 1 May 2026, £100,000 on 1 June and £50,000 on 1 July 2026. The Original, Notes, Additional Notes and any Facility Notes will now be convertible at 1.4 pence per Ordinary Share at any time up to 30 October 2026.
Frazer Lang has committed to only redeem the Original, Additional and any Facility Notes for Ordinary Shares and not seek any cash repayment. No interest or fees are payable on the Original, Additional and Facility Notes.
In connection with entering into the Facility, the Company has issued warrants to Frazer Lang over 10,000,000 Ordinary Shares in the Company at an exercise price of 2.5p, to be exercised within two years from the date of issue, bringing his total warrant holding to 22,500,000 warrants.
Commenting, Allan Syms, Executive Chairman of Cizzle Biotechnology, said:
“The Company continues to work closely with our North American licensing partner Cizzle Bio (“BIO”) and to finalise our plans for CLIA accreditation of our proprietary CIZ1B biomarker test that can help in early lung cancer detection. Together with BIO, we are preparing the commercial and logistical programme to launch the test and achieve initial sales. Plans for securing key partners in the UK and elsewhere in Europe continue to progress. Having the flexibility to access funds dedicated to support this process, if required, comes at an important time, ahead of our growth plans for 2026. We are grateful for the ongoing support from all our shareholders and in particular I want to express my appreciation for the continued and significant commitment we have received from Frazer Lang and his family.”
Commenting, Frazer Lang said:
“I remain firmly committed to Cizzle Biotechnology and its mission to transform the early detection of lung cancer. I strongly believe the CIZ1B biomarker test has the potential to save many lives by enabling diagnosis at the earliest possible stage. With the support of this new £250,000 funding facility, my total shareholding in the Company would, on full conversion, increase to approximately 21%.
“With multiple significant and transformative developments on the horizon, we are now on the brink of bringing this life-saving test into clinical use, where it can start delivering real and meaningful benefits to patients in the real world.”
