Female angel group leads biotech firm’s £1.2m boost

TC BIOPHARM ha s secured nearly £1.2 million in equity and grant funding to treat UK-based patients with melanoma, lung and kidney cancer, with the investment being led by Scotland’s only female angel group.

The boost comes after TCB became the only biotechnology company outside Japan to secure the right to trial immunotherapy to treat patients with cancer.

More than half of the funding has come from the first major investment from Investing Women.

It has led the funding round by investing £680,000, with support from Scottish Investment Bank and WH Partnership.

Scottish Enterprise has provided a total of around £500,000 which will directly fund TCB’s cancer therapy trial.

It will begin in September with initial clinical studies taking place in Glasgow, Edinburgh, Aberdeen and Southampton.

TCB’s ImmuniCell product uses patients’ own cells grown in culture to treat a variety of cancers.

It has been used to treat patients by TCB’s strategic pharma-partner Medient of Japan.

As well as cancers, the platform is believed to have the potential to target major viral infections.

These include severe influenza, HIV and Ebola.

TCB chief executive Michael Leek said: “Since commencing operations 16 months ago, TCB has raised over £3.3m in seed equity and grants.”

He added: “These funds, and the fantastic support from those who contributed, has allowed us to realise our goal – treating cancer patients.”

Jackie Waring, chief executive of Investing Women, said: “Investing Women is thrilled to lead this investment in TCB which allows the first treatment of cancer patients using ImmuniCell therapy.”