Core Viewpoint - TC BioPharm is implementing a strategic shift towards a decentralized model, which includes outsourcing several functions and reducing its workforce to create a leaner organization, ultimately aiming to reduce core operational burn by 55% compared to 2024 [1][2][3] Company Initiatives - The company plans to adopt a Contract Development and Manufacturing Organization (CDMO) model for production to meet increased demand for future clinical trials, allowing for the exploration of new manufacturing facilities and technologies [2] - A workforce reduction of approximately 20 employees is anticipated, primarily affecting the production and quality divisions, which represents about half of the company's total headcount [2] - The separations are expected to be largely completed by the end of Q2 2025, with estimated savings of approximately $2.1 million for partial year 2025 and annualized savings of roughly $4.2 million [2] Leadership Perspective - The CEO of TC BioPharm emphasized that the decision to reduce staff is part of a strategic shift towards an outsourced production model, which is believed to better position the company for future clinical trials and advancements in cell therapy manufacturing technologies [3] - The CEO acknowledged the difficulty of the decision but expressed gratitude for the contributions of departing employees and the importance of this transition for the company's future growth [3] Company Background - TC BioPharm is a clinical-stage biopharmaceutical company focused on developing gamma-delta T-cell therapies for cancer treatment, with human efficacy data in acute myeloid leukemia [4] - The company is recognized as a leader in this field and is conducting pivotal clinical trials for its gamma-delta T cell product line, utilizing proprietary technology to provide frozen products to clinics globally [5]
TCBP Announces Outsourcing Initiatives, Reducing Burn Rate and Overhead