- FDA-approved product in a multi-billion-dollar market
- Revenue generation projected in 2025
EDINBURGH, Scotland, March 5,
2025 /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
commercial-stage ophthalmic pharmaceutical company focused on
commercializing novel therapies for decreasing intraocular pressure
in patients with glaucoma and ocular hypertension.
The acquisition candidate has an FDA-approved once-per-day drop
to decrease intraocular pressure, a pipeline of development stage
assets in ophthalmology indications, and is led by a seasoned
management team. Currently, the approved product is being shipped
to 300 physicians for a three-month treatment sample. A commercial
launch will follow in the coming months, generating meaningful
revenue in 2025.
Under the terms and conditions of the agreement, TC BioPharm
will acquire 100% of the Company via an all-stock transaction. The
purchase is part of TC BioPharm's M&A strategy to expand its
therapeutic platform into new indications and bring in later-stage
assets that provide near-term value accretion and inflection
points. The potential subsidiary's lead therapeutic is a
prescription eye drop used to treat glaucoma and ocular
hypertension.
"With this agreement, TCBP will rapidly accelerate its strategic
trajectory from a singularly focused developer to a diversified
therapeutics company," said Bryan
Kobel, Chief Executive Officer of TC BioPharm. "This target
candidate's management team has extensive experience in multiple
pharma and drug development success stories and is projecting hyper
revenue growth over the coming 24 months with a market projection
for their drop to be over $8 billion
in a single patient population. TCB expects to execute the binding
letter of intent in the next 2-3 weeks and close the acquisition
formally in the third quarter of 2025. We are extremely pleased to
be acquiring this high growth company in an area of strong
institutional investor and pharma interest, with over $10 billion in M&A and funding in the last
12-18 months. We believe they will diversify and de-risk our
platform while advancing our mission of targeting promising novel
treatments in underserved markets and better positioning the
company for enhancing long-term future shareholder value."
The global glaucoma market size was estimated at
USD 8.06 billion in 2022 and it is
projected to hit around USD 12.69
billion by 2032. Glaucoma is an eye disease that can
cause vision loss and blindness by damaging a person's optic nerve.
Innovative approaches aim to not only lower eye pressure but also
tackle the known side effects of current treatments and adherence
rates. These advancements hold immense promise for individuals with
glaucoma, offering hope for better disease management and greater
outcomes.
About TC BioPharm (Holdings) PLC
TC BioPharm is a clinical-stage biopharmaceutical company
focused on discovering, developing, and commercializing gamma-delta
T-cell therapies for cancer treatment 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 in the treatment of acute
myeloid leukemia using the Company's proprietary allogeneic CryoTC
technology to provide frozen product to clinics worldwide.
Forward-Looking Statements for TC BioPharm
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 affect 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.
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SOURCE TC BioPharm