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.
TC BioPharm (PRNewsfoto/TC BioPharm)
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.
