• Company receives gross proceeds of
$1.26 M from transaction
EDINBURGH, Scotland, March 18,
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 an institutional investor has exercised cash only warrants
represented 623,750 American Depository Shares (ADS) at an exercise
price of $2.02.
The gross proceeds of the warrant exercise was $1,263,000 with a net cash infusion of
$1,168,275 to the Company post fees
associated with the exercise to HC Wainwright & Co. There was
no additional consideration or inducement paid for the exercise of
the Series D warrants in this transaction. The Company intends to
use the cash for additional working capital.
"This transaction is further reflective of the promise of
TCB-008 and The Company as whole," stated CEO Bryan Kobel. "We will continue to execute on our
2024 plan, driving to human data in AML as well as expanding our
platform. This cash infusion further strengthens our balance sheet
and is an example of the institutional investor interest the
Company is garnering around it's clinical programs and the
therapeutic applications for TCB-008."
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 without limitation statements
regarding the Company's intent or ability to effect any budget
savings or execute on 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, including that the proposed issuance of shares may not
be approved by the Company's shareholders. 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 20-F for the year ended
December 31, 2022, 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 TC BioPharm (Holdings) PLC
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 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 for OmnImmune® in treatment of
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