TC BioPharm Holdings, a Scottish Phase 2 biotech developing allogeneic gamma-delta T cell therapies, filed on Tuesday with the SEC to raise up to $50 million in an initial public offering.
The Holytown, UK-based company plans to raise $50 million by offering 6.3 million shares at a price range of $7 to $9. At the midpoint of the proposed range, TC BioPharm Holdings would command a fully diluted market value of $228 million.
TC BioPharm (TCB) is focused on developing novel immunotherapies based on its proprietary allogeneic gamma-delta T cell (GD-T) platform. The company's Omnimmune program is expected to enter Phase 2-into-pivotal (Phase 3) trials in the 4Q21 for the treatment of acute myeloid leukemia (AML). The company plans to conduct similar trials for AML in the US following an application to the FDA in the 1H22. TCB is also developing a GD-T therapy for the treatment of COVID-19, with trials expected to start in the 4Q21, and genetically modified CAR-T therapies for solid cancers.
TC BioPharm was founded in 2013 and booked $3 million in revenue for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol TCBP. TC BioPharm Holdings filed confidentially on July 26, 2021. EF Hutton is the sole bookrunner on the deal.
