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£1.18m investment in medical firm

Female angels back cancer treatment group in first deal

Investing Women TRC BiopharmScotland’s only female business angel group has made its first major investment with a package of support for a biotechnology company.

TC BioPharm will receive equity and grant funding totalling £1.18 million to treat UK-based patients with melanoma, lung and kidney cancer.

Investing Women led the £680,000 equity investment with support from the Scottish Investment Bank and WH Partnership.

Scottish Enterprise’s Smart:Scotland programme provided a £500,000 grant to directly fund TCB’s cancer therapy trial. The phase II/III clinical studies begin in September and will initially be conducted in Glasgow, Edinburgh, Aberdeen and Southampton.

Dr Michael Leek, TCB’s chief executive, said: “Since commencing operations 16 months ago, TCB has raised over £3.3 million in seed equity and grants. These funds, and the fantastic support from those who contributed, has allowed us to realise our goal – treating cancer patients.”

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

“It has been an exciting journey, and this is just the start.  The team at TCB are at the top of their game, and we have absolute confidence in their ability to deliver amazing results as well as their utter dedication to saving lives.”

ImmuniCell is manufactured by TCB at Maxim Office Park on the eastern edge of Glasgow.  The firm has 22 members of staff and is primed to become a hub for immuno-cell therapy, benefiting cancer patients in the UK and Europe.

Photo: Investing Women chief executive Jackie Waring , TC Biopharm’s chief executive, Dr Mike Leek, and operations and site director Angela Scott

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