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Cizzle Biotechnology Holdings PLC on Thursday said it had secured £250,000 in funding through convertible loan notes. The London-based life sciences company is developing a blood test for early lung cancer detection. Its shares fell 9.5% to 1.90 pence on Thursday morning in London, but are up 27% over the past year. The company said it has agreed to issue further CLNs to shareholder Frazer Lang in return for £250,000. As part of their arrangement, Cizzle has issued Lang warrants over 10.0 million shares exercisable at 2.5p, which brings his total warrant holding to 22.5 million. On full conversion, that would put his stake in the company at roughly 21%. The funding is to support ‘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,’ the company said. Back in May 2025, Lang had agreed to loan Cizzle £150,000. That deal was extended in November through the issue of further CLNs of £250,000, which were convertible at 1.4 pence per share up until Tuesday. Cizzle had said that it did not intend to incur debt or adjust its share capital before Tuesday, while the existing CLNs were still outstanding, but this restriction has since ended. As of Thursday, Cizzle has drawn down funds totalling £400,000 through its arrangements with Lang. The additional £250,000 agreed on Thursday can be drawn down in three tranches, including two of £100,000 and one of £50,000 on May 1, June 1 and July 1 respectively. The old and new CLNs are convertible at 1.4p up until October 30, with no additional interest or fees payable. ‘Lang has committed to only redeem the original, additional and any facility notes for ordinary shares and not seek any cash repayment,’ Cizzle added. Lang said he remained ‘firmly committed’ to Cizzle. Chair Allan Syms commented: ‘The company continues to work closely with our North American licensing partner Cizzle 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.’ The company’s operating loss before tax narrowed to £381,000 in the six ended in June 2025 from £1.4 million the year prior. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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