Where each comes from
BPC-157 is a synthetic 15-residue fragment, GEPPPGKPADDAGLV, of BPC, a roughly 40-residue protein identified in human gastric juice. It was characterized at the University of Zagreb from the early 1990s in the context of gastric cytoprotection.[1]
TB-500, as supplied by Eppix Labs, is synthetic full-length thymosin β4: a 43-residue, 4.9 kDa actin-sequestering protein present in most mammalian cells.[3] The name is also used on the research market for the acetylated seven-residue fragment Ac-LKKTETQ from the protein's actin-binding region, under a fifth of its mass, so the name alone does not tell you which molecule a vial contains.
That naming problem is the single most important thing to settle before comparing them: the thymosin β4 literature describes the full protein, so it applies to a full-length vial and not to a fragment sold under the same name.



