TC Biopharm (NASDAQ: TCBP), a clinical-stage biotechnology company developing platform allogeneic gamma-delta T cell therapies for cancer and viral indications, announced that it has closed on a previously announced initial public offering. The offering comprised more than 4 million American Depositary Shares (“ADSs”) as well as warrants to purchase up to 8,235,296 ADSs. According to the announcement, underwriters have partially exercised their option and purchased an additional 1,235,294 warrants; those warrants were purchased at an exercise price of $4.25 per warrant. TCBP will receive gross proceeds of some $17.5 million from the offering, prior to standard deductions. TC Biopharm plans to use monies from the offering to finance the cost of its phase 2b -into-pivotal (phase 3) trial for the treatment of acute myeloid leukemia as well as continued R&D of its proposed GD-T CAR therapies to treat cancers. Some funds may also be used to finance operating overhead costs, capital expenditure and limited repayment of convertible loan notes.
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About TC Biopharm
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 and viral infections 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 and phase I trial for ImmuniStim in treatment of COVID patients using the company’s proprietary allogenic CryoTC technology to provide frozen product to clinics worldwide. TC BioPharm also maintains a robust pipeline for future indications in solid tumors and other aggressive viral infections as well as a significant IP/patent portfolio in the use of CARs with gamma delta t-cells and owns its own manufacturing facility to maintain cost and product quality controls. For more information, please visit www.TCBioPharm.com.
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