Acquisition target has
established proof of concept data demonstrating the
therapeutic potential for the treatment of multiple solid
tumors
EDINBURGH, Scotland, May 6, 2024
/PRNewswire/ -- TC BioPharm (Holdings) PLC ("TC BioPharm" or the
"Company") (NASDAQ: TCBP) a clinical stage biotechnology
company developing platform allogeneic gamma-delta T cell therapies
for cancer and other indications, today announced the execution of
a non-binding letter of intent to acquire a privately-held
biotechnology company pursuing the development of innovative
Chimeric Antigen Receptor T-cell (CAR-T) therapies for the
treatment of refractory cancers and solid tumors.
This agreement is the second such agreement in as many months
shows TCBP's commitment to its M&A strategy aimed at expanding
its therapeutic platform.
CAR T-cell therapy modifies a patient's own immune cells to
provide a heightened ability to identify and eliminate cancer
cells.
The target acquisition has developed a number of
proprietary approaches to re-engineer CARs to better target solid
tumors. The Company has generated pre-clinical proof of concept
data that demonstrates the therapeutic potential of its lead CAR-T
candidate for a range of solid tumors including colorectal,
pancreatic, mesothelioma, ovarian and breast cancer. In addition,
the target acquisition is also developing a novel, allogeneic CAR-T
for the treatment of autoimmune diseases.
There can be no assurance that a definitive agreement will be
executed or that the proposed transaction will be consummated on
the terms or timeframe currently contemplated. Upon execution of
the definitive agreements, the completion of the transaction will
be subject to, among other matters, satisfaction of the conditions
negotiated therein, the Company having secured adequate financing,
and receipt of all third party (including governmental) approvals,
licenses, consents, and clearances, as and when applicable.
"Management is extremely pleased to announce this second
potential acquisiton which will provide strong advantages to our
current therapeutic platform as well as expand our efforts
into autoimmune disease," said Mr. Bryan Kobel, CEO of TC BioPharm. "There are
substantial synergies between the two companies with extensive
benefits to the business combination including CAR development
expertise as well as gamma delta and alpha beta T-cells. Our
existing expertise in gamma delta T-cells as well as transitioning
processes and therapeutics from autologous to allogeneic will be
impactful in advancing the solid tumor assets of the acquisition,
the acquired company brings strong CAR engineering expertise to
help us further develop our co-stimulatory CAR as well as a strong
clinical team. We believe that the combination of these two
companies provides a well balanced platform for investors and
patients in our pursuit of creating next-generation cell therapies
for the treatment of multiple indications. This represents not only
multiple shots on goal, but an expanded asset base in several
immune responder cells for the treatment of a wide range of disease
with an extensive patent portfolio. As such, 2024 and 2025 could
now have inflections points for data in several pipeline assets in
a variety of indications. I am proud of our ability to navigate a
difficult capital market environment and identify complimentary
resources that will continue to enhance the overall value of our
company and look forward to working with our expanded team."
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements contained in this Current Report on Form 8-K
that do not relate to matters of historical fact should be
considered forward-looking statements, including without limitation
statements regarding the Company's intent or ability to effect any
budget savings or execute on any M&A or capital raising
strategy. These statements are based on management's current
assumptions and are neither promises nor guarantees, but involve
known and unknown risks, uncertainties and other important factors
that may cause the Company's actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements. For other important factors that could
cause actual results to differ materially from the forward-looking
statements in this Current Report on Form 8-K, please see the risks
and uncertainties identified under the heading "Risk Factors" in
our Annual Report on Form 10-K for the year ended December 31, 2023, and our other reports filed
with the SEC, all of which is available on the Company's Investor
Relations website at www.tcbiopharm.com and on the SEC website at
www.sec.gov. All forward-looking statements reflect the Company's
beliefs and assumptions only as of the date of this Current Report
on Form 8-K. The Company undertakes no obligation to update
forward-looking statements to reflect future events or
circumstances.
About TC BioPharm (Holdings) PLC
TC BioPharm is a clinical-stage biopharmaceutical company
focused on the discovery, development and commercialization of
gamma-delta T cell therapies for the treatment of cancer with human
efficacy data in acute myeloid leukemia. Gamma-delta T cells are
naturally occurring immune cells that embody properties of both the
innate and adaptive immune systems and can intrinsically
differentiate between healthy and diseased tissue.
TC BioPharm is the leader in developing gamma-delta T cell
therapies, and the first company to conduct phase II/pivotal
clinical studies in oncology. The Company is conducting two
investigator-initiated clinical trials for its unmodified
gamma-delta T cell product line - Phase 2b/3 pivotal trial for OmnImmune® in treatment of
acute myeloid leukemia using the Company's proprietary allogeneic
CryoTC technology to provide frozen product to clinics
worldwide.
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SOURCE TC BioPharm
