TC BioPharm (TCBP) has announced the receipt of a patent grant from the European Patent Office covering modified gamma delta cells usage for treating cancer and viral indications.

This marks a significant milestone for the company as it aligns with TCBP's commercial strategy in Europe.

TC BioPharm CEO Bryan Kobel stated: “We are pleased to further expand our patent portfolio at TCBP with this European patent for modified gamma delta t-cells. 

“TCBP continues to focus on our immediate applications for TCB008 while developing future high-value gamma delta assets for other indications such as solid tumours.

“We believe gamma deltas can be a high-impact therapeutic when modified with the potential to outpace current CAR [chimeric antigen receptor] and modified t-cells in safety and efficacy, patent protecting these approaches gives us a competitive moat and further value in a potential acquisition scenario.”

In a related financial update, TCBP successfully closed an upsized public offering.

The offering included six million shares of American Depository Shares (ADS) and Series H warrants to purchase an equivalent number of ADS.

The combined public offering price was set at $1 per ADS and associated Series H warrant.

The Series H Warrants, priced at £0.76 per ADS, are immediately exercisable and will expire one year from the date of issue.

Each ADS represents two hundred ordinary shares of TCBP. The gross proceeds from the offering amounted to $6m, before the deduction of offering expenses payable by the company.

TCBP has earmarked the net proceeds from this offering to support key initiatives.

The funds are intended to support an upcoming clinical trial targeting relapse/refractory acute myeloid leukemia.

The proceeds will also be utilised for market awareness activities, as well as for sustaining operating expenses and working capital requirements.