TC BioPharm Announces Closing of $3.5 Million Public Offering
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Insights
The recent public offering completion by TC BioPharm, involving the issuance of American Depositary Shares and Series E Warrants, signifies a pivotal financial maneuver for the company. This strategic move has generated $3.5 million in gross proceeds, which are earmarked for a critical clinical trial for Acute Myeloid Leukemia and other operational costs.
The company's decision to adjust the exercise price of existing warrants reflects a tactical approach to enhance the attractiveness of these instruments to potential investors. The amendment potentially aligns the company's capital structure with its strategic objectives and market conditions.
Investors should monitor the deployment of the raised capital towards the clinical trial's progress, as successful outcomes could positively influence the company's valuation and future financing capabilities. However, the inherent risks of clinical trials in the biotechnology sector, along with the dilutive effect of the new shares, warrant careful consideration.
TC BioPharm's focus on developing allogeneic gamma-delta T cell therapies positions it within a niche but rapidly evolving segment of the oncology market. The company's upcoming trial for relapse/refractory Acute Myeloid Leukemia represents a significant step in addressing a challenging medical condition with a high unmet need.
From an industry perspective, the success of such therapies could disrupt existing treatment paradigms and offer new revenue streams. However, the competitive landscape, regulatory hurdles and the complexity of bringing such therapies to market must be factored into any analysis of the company's prospects.
The biotechnology sector is characterized by high R&D costs and a prolonged path to commercialization, making the timing and results of clinical trials critical to a company's sustainability and growth.
Acute Myeloid Leukemia (AML) is a severe and often fatal hematologic malignancy and relapse/refractory cases present significant treatment challenges. TC BioPharm's commitment to advancing its clinical trial in this domain highlights the company's role in potential therapeutic advancements.
Gamma-delta T cell therapies represent an innovative approach, leveraging the immune system's intrinsic properties to combat cancer. The efficacy and safety profile of such therapies will be under scrutiny in upcoming trials and favorable data could have profound implications for patient outcomes and the broader medical community.
Stakeholders should recognize the high stakes associated with such research, as the biotech industry often faces binary outcomes in clinical trials, which can drastically affect a company's trajectory.
H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
The gross proceeds to the Company from the offering were
A registration statement on Form F-1 (File No. 333-274244) relating to the securities described above has been filed with the Securities and Exchange Commission, or the SEC, and was declared effective by the SEC on December 18, 2023. The offering was made only by means of a prospectus, which is part of the effective registration statement. A final prospectus relating to the offering has been filed with the SEC. Electronic copies of the final prospectus may be obtained for free on the SEC's website located at http://www.sec.gov and may also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor,
The Company also amended a certain existing warrant to purchase up to an aggregate of 623,750 ADSs of the Company that was previously issued on September 5, 2023, at an exercise price of
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
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 uses an allogeneic approach in both unmodified and CAR modified gamma-delta T cells to effectively identify, target and eradicate both liquid and solid tumors in cancer. 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. TC BioPharm also maintains a robust pipeline for future indications in solid tumors as well as a significant IP/patent portfolio in the use of CARs with gamma-delta T cells and owns our manufacturing facility to maintain cost and product quality controls.
Forward Looking Statements
This press release may contain statements of a forward-looking nature relating to future events, including, but not limited to, statements regarding the anticipated use of proceeds from the offering. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect our current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. We undertake no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise. The reference to the website of TC BioPharm has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release.
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SOURCE TC BioPharm
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