EDINBURGH - TC BioPharm (Holdings) PLC (NASDAQ: TCBP), a clinical-stage biopharmaceutical company, today announced its intent to acquire a biotechnology firm specializing in Chimeric Antigen Receptor T-cell (CAR-T) therapies for cancer treatment. This move represents the company's second acquisition agreement in recent months, signaling a strategic push to enhance its portfolio of cancer therapies.
The undisclosed target company has established proof of concept data for its CAR-T therapy, showing potential in treating solid tumors such as colorectal, pancreatic, mesothelioma, ovarian, and breast cancer. Additionally, the acquisition candidate is developing allogeneic CAR-T therapies for autoimmune diseases.
TC BioPharm's CEO, Mr. Bryan Kobel, expressed optimism about the acquisition, citing the expected synergies and benefits to both companies' therapeutic platforms, including CAR development expertise and a variety of immune responder cells. He highlighted the potential for data inflection points in the coming years across multiple pipeline assets.
While the letter of intent is non-binding, the definitive agreement's execution and the transaction's finalization will depend on various conditions, including satisfactory negotiations, adequate financing, and necessary third-party approvals.
TC BioPharm is known for its leadership in gamma-delta T cell therapies and is currently conducting Phase 2b/3 pivotal clinical trials for its OmnImmune® product in the treatment of acute myeloid leukemia.
This announcement is based on a press release statement from TC BioPharm.
InvestingPro Insights
In light of TC BioPharm's (NASDAQ: TCBP) recent announcement regarding its strategic acquisition, investors are closely monitoring the company's financial health and market performance. According to InvestingPro data, TC BioPharm holds a market capitalization of just 4.66 million USD, reflecting its status as a smaller player in the biopharmaceutical industry. The company's stock has experienced a substantial 50.83% return over the last three months, which could indicate a positive market response to its recent initiatives or a rebound from prior declines. Despite this recent uptick, the one-year price total return stands at a significant loss of -93.11%, underscoring the challenges and volatility the stock has faced.
InvestingPro Tips reveal a mixed picture for TC BioPharm. On the one hand, the company holds more cash than debt on its balance sheet, which is a positive sign for financial stability. On the other hand, the company is quickly burning through its cash reserves and has not been profitable over the last twelve months. The stock also generally trades with high price volatility, which can be a concern for risk-averse investors.
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Considering TC BioPharm's current strategic moves and the associated financial metrics, investors are encouraged to conduct thorough research and consider the company's long-term potential in the evolving biopharmaceutical sector.
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