TC BioPharm (Holdings) PLC, a clinical-stage biotechnology company developing platform allogeneic gamma-delta T cell therapies for cancer and other indications, today announced the execution of a non-binding letter of intent to acquire a commercial-stage ophthalmic pharmaceutical company focused on commercializing novel therapies for decreasing intraocular pressure in patients with glaucoma and ocular hypertension.
The acquisition candidate has an FDA-approved once-per-day drop to decrease intraocular pressure, a pipeline of development stage assets in ophthalmology indications, and is led by a seasoned management team. Currently, the approved product is being shipped to 300 physicians for a three-month treatment sample. A commercial launch will follow in the coming months, generating meaningful revenue in 2025.
Under the terms and conditions of the agreement, TC BioPharm will acquire 100% of the Company via an all-stock transaction. The purchase is part of TC BioPharm’s M&A strategy to expand its therapeutic platform into new indications and bring in later-stage assets that provide near-term value accretion and inflection points. The potential subsidiary’s lead therapeutic is a prescription eye drop used to treat glaucoma and ocular hypertension.
“With this agreement, TCBP will rapidly accelerate its strategic trajectory from a singularly focused developer to a diversified therapeutics company,” said Bryan Kobel, Chief Executive Officer of TC BioPharm. “This target candidate’s management team has extensive experience in multiple pharma and drug development success stories and is projecting hyper revenue growth over the coming 24 months with a market projection for their drop to be over $8 billion in a single patient population. TCB expects to execute the binding letter of intent in the next 2-3 weeks and close the acquisition formally in the third quarter of 2025. We are extremely pleased to be acquiring this high growth company in an area of strong institutional investor and pharma interest, with over $10 billion in M&A and funding in the last 12-18 months. We believe they will diversify and de-risk our platform while advancing our mission of targeting promising novel treatments in underserved markets and better positioning the company for enhancing long-term future shareholder value.”
The global glaucoma market size was estimated at USD 8.06 billion in 2022 and it is projected to hit around USD 12.69 billion by 2032. Glaucoma is an eye disease that can cause vision loss and blindness by damaging a person’s optic nerve. Innovative approaches aim to not only lower eye pressure but also tackle the known side effects of current treatments and adherence rates. These advancements hold immense promise for individuals with glaucoma, offering hope for better disease management and greater outcomes.