TC BioPharm wins European patent for cancer therapy

TC BioPharm (TCBP) has recently secured a European patent for its innovative use of modified gamma delta T-cells in the treatment of cancer and viral infections. This development signifies a crucial advancement for the company, aligning with its strategic goals in the European market.

Bryan Kobel, the CEO of TC BioPharm, expressed satisfaction with the patent grant, highlighting its importance in expanding the company's intellectual property portfolio. Kobel emphasized that TCBP is concentrating on the immediate applications of their product, TCB008, while also working on future high-value gamma delta assets aimed at other conditions, including solid tumors.

Kobel pointed out the potential of modified gamma delta T-cells as a powerful therapeutic option, possibly surpassing current CAR (chimeric antigen receptor) and other modified T-cell therapies in terms of safety and efficacy. He noted that securing patent protection for these innovative approaches provides TCBP with a competitive advantage and enhances its value, potentially making it an attractive acquisition target.

In a related financial update, TC BioPharm successfully completed an expanded public offering. This offering consisted of six million American Depository Shares (ADS) and an equal number of Series H warrants, each priced at $1 per ADS and associated Series H warrant. The Series H Warrants, which are priced at £0.76 per ADS, are immediately exercisable and will expire one year from the issuance date. Each ADS represents two hundred ordinary shares of TCBP.

The public offering generated gross proceeds of $6 million, before deducting offering expenses. The company plans to allocate the net proceeds from this offering to several key initiatives. A significant portion of the funds will be used to support an upcoming clinical trial focused on relapse/refractory acute myeloid leukemia. Additionally, the proceeds will fund market awareness activities and help sustain operating expenses and working capital requirements.

Overall, these developments mark significant progress for TC BioPharm, reinforcing its position in the European market and providing a solid foundation for future growth and innovation.

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