On May 1, 2024, TC BioPharm (Holdings) PLC, a clinical-stage biotechnology company, announced a non-binding letter of intent to acquire a private company specializing in innovative CAR-T therapies for cancer treatment. The potential business combination involves a cash purchase price of $20 million, adjusted for the seller's indebtedness, and the issuance of American Depository Shares representing the company's ordinary shares. The total value attributable to the shares at closing is also set at $20 million. Additional payments are contingent upon the seller meeting various development milestones. The terms of the proposed transaction are subject to due diligence, negotiation, and execution of definitive agreements, as well as securing financing and necessary approvals. The acquisition aims to expand TC BioPharm's...Show More

On May 1, 2024, TC BioPharm (Holdings) PLC, a clinical-stage biotechnology company, announced a non-binding letter of intent to acquire a private company specializing in innovative CAR-T therapies for cancer treatment. The potential business combination involves a cash purchase price of $20 million, adjusted for the seller's indebtedness, and the issuance of American Depository Shares representing the company's ordinary shares. The total value attributable to the shares at closing is also set at $20 million. Additional payments are contingent upon the seller meeting various development milestones. The terms of the proposed transaction are subject to due diligence, negotiation, and execution of definitive agreements, as well as securing financing and necessary approvals. The acquisition aims to expand TC BioPharm's therapeutic platform, particularly in the treatment of solid tumors and autoimmune diseases. The company's CEO, Bryan Kobel, expressed optimism about the synergies and benefits of the acquisition, which aligns with TC BioPharm's M&A strategy. However, there is no guarantee that the transaction will be completed as contemplated or at all.