TC BioPharm secures European patent for cell therapy By Investing.com

EDINBURGH – TC BioPharm (Holdings) PLC (NASDAQ: TCBP), a clinical-stage biotechnology company, announced today it has been granted a European patent for its modified gamma delta T cell therapies, aimed at treating cancer and viral indications. The European Patent Office (EPO) issued the patent, which is part of the company’s strategy to protect and commercialize its cell therapy products in Europe.

The CEO of TC BioPharm, Bryan Kobel, expressed the company’s commitment to advancing its TCB008 application and further developing gamma delta T cell assets for additional indications like solid tumors. Kobel highlighted the potential of gamma delta T cells to surpass current CAR and modified T cell therapies in terms of safety and efficacy. The patent is seen as a strategic asset that could provide a competitive edge and add value in potential acquisition scenarios.

TC BioPharm is actively conducting clinical trials, including a Phase 2b/3 pivotal trial for acute myeloid leukemia, using its proprietary allogeneic CryoTC technology. This technology enables the distribution of frozen cell therapy products globally.

The company’s statement also included forward-looking information, cautioning that future results may differ from current expectations due to various risks and uncertainties. These forward-looking statements are not guarantees of future performance and are subject to factors that could influence the company’s actual outcomes.

Investors and interested parties should note that this news is based on a press release statement from TC BioPharm and should consider the risks and uncertainties identified in the company’s filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2023.

TC BioPharm is recognized as a leader in the development of gamma-delta T cell therapies, with a focus on leveraging the innate and adaptive properties of these immune cells to differentiate between healthy and diseased tissue, particularly in the treatment of cancer.

In other recent news, TC BioPharm has made significant strides in its operations. The company announced compliance with Nasdaq’s Minimum Stockholders’ Equity Requirement, ensuring its continued listing on the Nasdaq Global Select Market. This achievement came after the successful closure of transactions outlined in a Purchase Agreement.

Furthermore, TC BioPharm finalized a direct offering of shares and warrants, raising $2 million. The company also secured approximately $3.9 million from the exercise of warrants, with H.C. Wainwright & Co. acting as the exclusive placement agent for these operations. These funds are intended to advance the company’s clinical trial for relapse/refractory Acute Myeloid Leukemia and cover general corporate expenses.

In addition, TC BioPharm announced an adjustment in the ratio of its American Depositary Shares to ordinary shares, effectively a one-for-10 reverse ADS split. This change, overseen by The Bank of New York Mellon (NYSE:), is set to become effective in August 2024.

Lastly, the company expressed its intention to acquire a biotechnology firm specializing in Chimeric Antigen Receptor T-cell therapies for cancer treatment. This acquisition is subject to satisfactory negotiations, adequate financing, and necessary third-party approvals. These are among the recent developments at TC BioPharm.

InvestingPro Insights

In light of TC BioPharm’s recent announcement regarding the European patent for its cell therapy products, investors may be looking at the company’s financial metrics and market performance to gauge its potential. According to the latest InvestingPro data, TC BioPharm has a market capitalization of just $1.73 million, indicating a relatively small player in the biotech industry. The company’s Price / Book ratio, based on last twelve months as of Q1 2024, stands at 1.3, suggesting that the market values the company at a slight premium over its book value.

However, the financial health of TC BioPharm appears to be a concern, as reflected by an Operating Income of -$17.04 million and an EBITDA of -$16.31 million for the same period. These figures highlight the company’s current struggle to generate profit from its operations. Additionally, the stock price has experienced a significant downturn, with a one-year price total return of -96.87% as of a recent 2024 date, indicating a steep decline in investor confidence.

Two InvestingPro Tips that investors may find pertinent in this context are: TC BioPharm is quickly burning through cash, and the stock has taken a big hit over the last week. These tips suggest that the company’s financial runway and recent market performance should be carefully considered by current and potential investors. For a more comprehensive analysis, there are 12 additional InvestingPro Tips available, which can provide deeper insights into TC BioPharm’s financial health and market outlook.

The recent patent news could be a positive development for TC BioPharm, but it’s clear that the company faces significant financial challenges. Investors looking to understand the full picture can find additional tips and metrics on InvestingPro, offering a more detailed analysis to help inform investment decisions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.