Biotechnology company TC BioPharm Ltd (TCB) announced today it has raised £1.18 million in equity and grant funding to treat UK-based patients with melanoma, lung and kidney cancer.
Investing Women, Scotland’s only female angel group, marked its first major investment in leading the £680,000 investment with support from Scottish Investment Bank and WH Partnership.
The equity investment was accompanied by a grant award of approximately £500,000 from Scottish Enterprise’s SMART:SCOTLAND program to directly fund TCB’s cancer therapy trial. Due to commence in September, the phase II/III clinical studies will initially be conducted in Glasgow, Edinburgh, Aberdeen and Southampton.
TCB’s lead product, ImmuniCell®, uses patients’ own cells grown in culture to target a wide variety of different cancers. The product has a safe and efficacious history of use based on the treatment of numerous patients by TCB’s strategic pharma-partner – Medinet, Japan. In addition to treating cancer, ImmuniCell® has platform potential to target major viral infections such as severe influenza, HIV and Ebola.
Dr Michael Leek, TCB’s Chief Executive, said: “Since commencing operations 16 months ago, TCB has raised over £3.3 million in seed equity and grants. These funds, and the fantastic support from those who contributed, has allowed the Company to realise our goal – treating cancer patients.”
Jackie Waring, Investing Women’s Chief Executive, said: “Investing Women are thrilled to lead this investment in TCB which allows the first treatment of cancer patients using ImmuniCell® therapy. It has been an exciting journey, and this is just the start. The team at TCB are at the top of their game, and we have absolute confidence in their ability to deliver amazing results as well as their utter dedication to saving lives.”
ImmuniCell® is manufactured by TCB at their multi-million pound *MHRA-approved cleanroom just outside Glasgow, Scotland. The **GMP-compliant facility houses TCB’s 22 staff and is primed to become a hub for immuno-cell therapy, benefiting cancer patients in the UK and Europe. The facility has flexibility and capacity to treat both individuals with cancer and those with major viral infections, potentially allowing large patient numbers to benefit from TCB’s versatile therapeutic platform.
Julia Brown, Director of Life and Chemical Sciences, Scottish Enterprise, said: “We are pleased to be able to invest in a company that is addressing significant public health issues and manufacturing a leading edge product in Scotland. Along with our partners, we have worked closely with TC BioPharm over the last three years to provide an integrated package of support that includes account management, international market support, assistance from the High Growth Start-Up Unit and investment from SMART: SCOTLAND and the Scottish Investment Bank. We look forward to continuing to work with the company to help realise its growth plans.”