EDINBURGH, Scotland, April 4,
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 as part of its
M&A strategy aimed at expanding its therapeutic platform and
leveraging NK (natural killer) cells in treating both solid tumors
and other indications.
The target asset acquisition covers the proprietary
manufacturing process of two allogeneic CAR-NK therapeutics, both
of which TCB believes are valuable as monotherapies as well as in
conjunction with TCB-008 in the future. Initially, the CAR
platforms both are targeted towards solid tumors, including a CD-70
CAR NK technology and an HER2 CAR-NK technology. TCB sees
substantial synergies in this potential acquisition, both in
clinical therapeutic terms of TCB-008 in combination with the
CAR-NK assets, as well as leveraging the existing expertise and
human capital of TCB to further advance and refine the
manufacturing process while bringing in additional CAR expertise to
advance multiple platforms.
There is substantial evidence supporting the rationale that
gamma delta t-cells and NK cells play important and symbiotic roles
in the immune response for various disease indications. Due to the
fact that NK cells do not need to be genetically engineered in
order to recognize cancer cells, patients are able to be treated in
an expedited timeframe.
Under the terms of the LOI, TC BioPharm has been granted
exclusivity while the parties work in good faith on the drafting of
a definitive agreement. 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. TC BioPharm's Board of Directors' approval and
disclosed thereafter. 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. There can be no assurance that
the Proposed Transaction will be completed on the terms
contemplated in the LOI or otherwise.
"With the difficult times in cell therapy we see this as a
unique opportunity to aggressively expand our asset base in other
immune cells and immune responder technologies, which we believe
will further enhance TCBP as a leader in cell therapy and increase
our future value," said Mr. Bryan Kobel, CEO of TC BioPharm.
"We believe this proposed asset acquisition brings not just a
new and expanded opportunity in cancer, but synergies in
combination efforts with TCB-008 in numerous indications.
This proposed asset acquisition would leverage our strengths in
optimizing manufacturing processes and developing new cell
therapies rapidly to the clinical stage, as well as our core asset
on asset base expansion and combination efforts with TCB-008. By
merging complimentary technologies under one roof we believe the
potential exit value of TCBP is increased, patients will benefit in
expanded clinical trial efforts which we will control, and
ultimately benefit shareholders in future value."
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, including that the proposed issuance of
shares may not be approved by the Company's shareholders. 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
