Business
Tevogen Bio CEO Reinforces Commitment to Retention of Equity Capital and Long-Term Vision
WARREN, N.J., Feb. 14, 2025 (GLOBE NEWSWIRE) -- Ryan Saadi, MD, MPH, Founder and CEO of Tevogen Bio (“Tevogen Bio Holdings Inc.” or “Company”) (Nasdaq: TVGN),
About this update from Tevogen Bio Holdings Inc.
[{"type":"text","content":"WARREN, N.J., Feb. 14, 2025 (GLOBE NEWSWIRE) -- Ryan Saadi, MD, MPH, Founder and CEO of Tevogen Bio (“Tevogen Bio Holdings Inc.” or “Company”) (Nasdaq: TVGN), a clinical-stage specialty immunotherapy biotech company, reaffirms his commitment to preserving equity for shareholders. Amid ongoing discussions about financing approaches in the biotech sector, Dr. Saadi emphasizes his distinct strategy, which prioritizes efficiency, asset ownership, and a path to revenue. “I’m not opposed to the concept of equity financing, I believe that preserving equity is fundamental to preserving a Founder’s vision,” said Ryan Saadi, Founder and CEO of Tevogen Bio. “From a practical standpoint, it’s simply not relevant to us when you consider the following: Strong Asset Base: Tevogen Bio believes its assets are valued in the billions. This value is not reflected on Tevogen’s balance sheet as internally developed intangible assets are generally not permitted to be capitalized as per US GAAP.Operational Efficiency: Tevogen Bio’s market cap per employee is approximately 600% higher than the industry according to Mr. Damodaran at the Stern School of Business at NYU.Self-Sustaining Financing Strategy: While Tevogen may secure funds between now and when it starts generating revenue, it has multiple avenues to do so without selling equity. Regarding the company: Tevogen’s true value will become more widely recognized as awareness grows.The best way to gain TVGN shares is through employment, as every employee is also a shareholder.Tevogen’s business model challenges traditional biotech financing norms to ensure long-term sustainability.The company remains committed to making advanced immunotherapies accessible and affordable. About Tevogen Bio Tevogen Bio is a clinical-stage specialty immunotherapy company harnessing one of nature’s most powerful immunological weapons, CD8+ cytotoxic T lymphocytes, to develop off-the-shelf, genetically unmodified precision T cell therapies to treat infectious disease and cancers, aiming to address the significant unmet needs of large patient populations. Tevogen Bio leadership believes that sustainability and commercial success in the current era of healthcare rely on ensuring patient accessibility through advanced science and innovative business models. Tevogen Bio has reported positive safety data from its proof-of-conc...