10:49 AM EST, 03/05/2025 (MT Newswires) -- TC BioPharm ( TCBP ) said Wednesday it executed a non-binding letter of intent to acquire a commercial-stage ophthalmic pharmaceutical company in an all-stock transaction.

The target company has a US Food and Drug Administration-approved once-per-day drop to decrease intraocular pressure and a pipeline of development-stage assets in ophthalmology indications, TC said.

The company said it expects to execute the binding letter of intent in the next 2-3 weeks and close the acquisition in Q3 of 2025.

Shares of TC BioPharm ( TCBP ) were over 8% lower in recent trading.

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