Liquidators have been appointed and it has been confirmed that each one members of workers have been made redundant.
The corporate researched most cancers therapies (Picture: Getty)
An enormous analysis firm has fallen into liquidation, with all workers being made redundant. TC BioPharm, based in 2013, centered on most cancers analysis and was listed on the US Nasdaq change till final yr.
The Motherwell-based firm has now appointed liquidators after a purchaser couldn’t be discovered to put it aside. It has been confirmed that each one 14 workers members have misplaced their jobs. The corporate was co-founded by Angela Scott, who performed a key function in cloning Dolly the Sheep in 1996. As reported by The Herald, Michael Magnay and Rob Croxen, of Alvarez & Marsal, had been appointed directors of TC BioPharm final yr. They’ve now been made joint liquidators.
Paperwork learn: “The corporate carried out analysis into blood most cancers therapies from its Motherwell headquarters. It employed 14 workers, however made no gross sales as its merchandise remained in scientific trials.
“The corporate was funded solely by its guardian firm, TC BioPharm Plc; nonetheless, subsequent delisting from the Nasdaq in March 2025 created extreme liquidity points.”
Mr Magnay, managing director at Alvarez & Marsal, stated: “TC BioPharm carried out clinical-stage cell remedy from its mixed workplace and laboratories web site in Motherwell.
“We had been appointed directors over its working firm in October 2025 and instantly commenced an accelerated gross sales course of throughout which we had been capable of get well worth from a few of its property.
“The enterprise employed 14 folks on the time of our appointment, and regrettably, it was essential to make them redundant.
“Subsequently, we’ve been appointed liquidators over the holding firm, which was listed on Nasdaq. We are actually finishing the method of winding up each entities.”
TC BioPharm was valued at £87.9 million throughout its time on the US Nasdaq change. It acquired appreciable monetary assist after being based, together with £6.1 million from Scottish Enterprise, £1.2 million from Investing Ladies Angels, and £2.6 million from the European Union.
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A Scottish Enterprise spokesperson stated: “We co-invest in very early stage, excessive progress potential corporations as a result of it’s excessive danger and the market has wanted public sector intervention.
“Whereas we’ve seen losses as a result of nature of this a part of the market, our cumulative funding of £889m over greater than twenty years has seen a monetary return of £478m and created a portfolio at the moment valued at greater than £447m, whereas additionally leveraging £2.65bn of personal capital into tons of of corporations.”
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