Tiziana Life Sciences is a clinical-stage biotech developing immunotherapies for neurodegenerative and neuroinflammatory diseases. Its entire focus is Foralumab, which the company describes as the only fully human anti-CD3 monoclonal antibody in clinical development. Foralumab works by binding to CD3 receptors on T-cells, suppressing inflammation-driving immune cells while stimulating regulatory T-cells. The key differentiator is intranasal delivery: Tiziana argues that administering Foralumab as a nasal spray targets the brain's mucosal immune system without the systemic side effects — particularly Cytokine Release Syndrome — seen with intravenous anti-CD3 antibodies. The lead indication is non-active Secondary Progressive MS (na-SPMS), a form of MS marked by gradual disability accumulation with no relapses and few effective treatments. A Phase 2a placebo-controlled trial is enrolling, with top-line data expected in the second half of 2026, and the FDA granted Fast Track designation in July 2024. Tiziana is also running Phase 2 trials in Alzheimer's disease, ALS, and Multiple System Atrophy. Tiziana operates a lean, virtual model with no manufacturing or commercial infrastructure, outsourcing most functions and concentrating clinical work at Brigham and Women's Hospital. The company is pre-revenue, funding operations through equity raises and grants. The long-term plan is to advance Foralumab to approval and partner with or be acquired by a larger pharma company. Tiziana holds worldwide rights to Foralumab and owes a low-single-digit royalty to Novimmune, from whom it licensed the underlying IP in 2014.