TC BioPharm Announces Execution Of Second Non-Binding LOI For Acquisition, Targeting Innovative CAR-T Therapies; Financial Terms Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
TC BioPharm (NASDAQ:TCBP) announced its second non-binding letter of intent in recent months to acquire a biotech company focused on CAR-T therapies for cancer. This move aligns with TCBP's M&A strategy to enhance its allogeneic gamma-delta T cell therapy platform. The acquisition target has demonstrated proof of concept for its CAR-T therapies against solid tumors and is developing treatments for autoimmune diseases. The completion of this acquisition is contingent on several factors, including financing and regulatory approvals.
May 06, 2024 | 12:34 pm
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TC BioPharm's announcement of a potential acquisition to enhance its CAR-T therapy platform could positively impact investor sentiment, given the strategic expansion into solid tumor treatments and autoimmune diseases.
The announcement of a second acquisition aimed at expanding TC BioPharm's therapeutic platform indicates a proactive growth strategy. This could lead to positive investor sentiment due to the potential for enhanced product offerings and entry into new treatment areas. However, the impact is contingent on the successful completion of the acquisition, which is not guaranteed.
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