TC BioPharm (Holdings) PLC has executed a non-binding letter of intent to acquire a commercial-stage ophthalmic pharmaceutical company specializing in novel therapies for glaucoma and ocular hypertension. The Edinburgh-based clinical-stage biotechnology company, known for developing allogeneic gamma-delta T cell therapies for cancer, announced the planned acquisition on March 5, 2025.
The acquisition target brings an FDA-approved once-daily eye drop that decreases intraocular pressure in patients with glaucoma and ocular hypertension. The product is currently being shipped to 300 physicians for three-month treatment samples, with a full commercial launch anticipated in the coming months that is expected to generate meaningful revenue in 2025.
Strategic Expansion into Ophthalmology
The planned acquisition represents a significant strategic shift for TC BioPharm, which has primarily focused on developing gamma-delta T cell therapies for oncology applications. Under the terms of the agreement, TC BioPharm will acquire 100% of the ophthalmic company through an all-stock transaction.
"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."
The acquisition aligns with TC BioPharm's M&A strategy to expand its therapeutic platform into new indications and incorporate later-stage assets that provide near-term value and growth opportunities. The company expects to execute a binding letter of intent within 2-3 weeks and formally close the acquisition in the third quarter of 2025.
Market Opportunity in Glaucoma Treatment
The global glaucoma market presents a substantial opportunity, with an estimated value of USD 8.06 billion in 2022 and projections to reach USD 12.69 billion by 2032. Glaucoma, a progressive eye disease that damages the optic nerve, can lead to vision loss and blindness if left untreated.
Current treatment approaches focus primarily on reducing intraocular pressure, but innovative therapies are increasingly addressing the side effects of existing treatments and improving patient adherence rates. The acquisition positions TC BioPharm to enter this growing market with an FDA-approved product that addresses these clinical needs.
Diversification of Therapeutic Portfolio
Prior to this acquisition, TC BioPharm has been known for its work in gamma-delta T cell therapies, particularly for cancer treatment. The company has demonstrated human efficacy data in acute myeloid leukemia and is conducting two investigator-initiated clinical trials for its unmodified gamma-delta T cell product line, including a Phase 2b/3 pivotal trial in acute myeloid leukemia using its proprietary allogeneic CryoTC technology.
The addition of an ophthalmology-focused subsidiary with an FDA-approved product represents a significant diversification of TC BioPharm's therapeutic portfolio and risk profile. The company believes this acquisition will "diversify and de-risk our platform while advancing our mission of targeting promising novel treatments in underserved markets," according to Kobel.
Commercial and Financial Implications
The acquisition candidate brings not only an FDA-approved product but also a pipeline of development-stage assets in ophthalmology indications. The management team of the target company has extensive experience in pharmaceutical development and commercialization.
TC BioPharm highlighted the strong institutional investor and pharmaceutical industry interest in the ophthalmology sector, noting over $10 billion in M&A activity and funding in the last 12-18 months. This environment could provide additional opportunities for growth and partnerships as the company integrates the new subsidiary.
The company expects the acquisition to better position it for enhancing long-term shareholder value through diversification into a commercial-stage operation with near-term revenue potential, complementing its existing clinical-stage pipeline in oncology.
