EDINBURGH, Scotland, Nov. 12,
2024 /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
that it has been awarded non-dilutive funding of $250,000 from the G-Rex® Grant
Program.
The G-Rex® Grant Program, launched by ScaleReady
alongside Wilson Wolf Manufacturing and the Bio-Techne Corporation,
is a $20M initiative to advance the state of cell and
gene-modified cell therapy (CGT) development and
manufacturing. Grant recipients also access exclusive support
from ScaleReady's growing consortium of G-Rex® Grant
Partners, who bring best-in-class tools and technologies and
unparalleled knowledge and expertise in cGMP-compliant
manufacturing, quality, regulatory affairs, business operations,
and more.
The $250,000 grant will support
TCB008 manufacturing process optimizations over the next 18 months.
Dr. Lauren Bor and her team, who
lead process development and commercialization efforts at TC
BioPharm, will drive process optimizations.
"It's fantastic to see grants offered in support of cell therapy
products using the G-Rex® platform, and we're excited to
reveal the benefits of our program work over the next 18 months,"
said Dr. Lauren Bor. "We announced
earlier in 2024 that we were developing the TCB008 manufacturing
process to increase yields while reducing costs with the target of
increasing our yield by a large scale and decreasing our costs by
over 80%. The awarded ScaleReady G-Rex® Grant will
expedite and expand these optimizations, allowing us to deliver
expanded process yields with a shortened manufacturing process in
the first half of 2025; 12 months ahead of schedule."
Joseph Mullen, Head of
Production, who will work with Dr. Lauren
Bor's team to implement the developed process optimizations
in the latter half of 2025, said, "We look forward to implementing
the G-Rex® platform optimizations, developed using the
awarded grant. These developments will increase the rate of TCB008
manufacture within the existing Maxim
Park facility without the need to increase overhead
costs."
"We appreciate ScaleReady's G-Rex® Grant Program
and ScaleReady's commitment to innovation in the cell therapy
manufacturing space," said Bryan
Kobel, CEO of TC BioPharm. "This non-dilutive grant will
continue to support product development and manufacture as we
advance our Phase 2B clinical trial
for the treatment of patients with acute myeloid leukemia. The work
being done to further advance scaling production of TCB008 to
commercial levels will be accelerated by this funding and bring
increased cost savings, making TCB008 affordable for all patients
and potentially one of the most economical cell therapy
options."
Forward-Looking Statements
This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. All statements contained
in this Press Release that do not relate to matters of historical
fact should be considered forward-looking statements, including
statements regarding the Company's intent or ability to affect any
budget savings or execute 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 Press Release, 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 Press
Release. The Company undertakes no obligation to update
forward-looking statements to reflect future events or
circumstances.
About ScaleReady
ScaleReady is a joint venture between
Bio-Techne, Fresenius Kabi, and Wilson
Wolf bringing together proven tools and technologies for
cell culture, cell activation, gene editing, and cell processing.
ScaleReady provides leading therapeutic developers with the most
simple, scalable, and versatile manufacturing platform in the
industry.
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 treating acute myeloid
leukemia using the Company's proprietary allogeneic CryoTC
technology to provide frozen product to clinics worldwide.
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SOURCE TC BioPharm
