Business
Tevogen Bio Signs Letter of Intent With CD8 Technology to Build Up to a $50 Million R&D and Manufacturing Facility; No Impact on Shareholder Equity
CD8 Technology Services, LLC (“CD8 Technology”) to provide turn-key facility for Tevogen BioReinforces Tevogen Bio’s commitment to preserving shareholder
About this update from Tevogen Bio Holdings Inc.
[{"type":"text","content":"CD8 Technology Services, LLC (“CD8 Technology”) to provide turn-key facility for Tevogen BioReinforces Tevogen Bio’s commitment to preserving shareholder valueExpected to further enhance Tevogen Bio’s ambitious growth agenda WARREN, N.J., Oct. 29, 2024 (GLOBE NEWSWIRE) -- Tevogen Bio (“Tevogen” or “Tevogen Bio Holdings Inc.”) (Nasdaq: TVGN), a clinical-stage specialty immunotherapy biotech developing off-the-shelf, genetically unmodified T cell therapeutics to treat infectious disease and cancers, took significant steps toward expanding R&D and manufacturing capabilities. The proposed facility is intended to support both pre-clinical research and GMP manufacturing capabilities, staffed by Tevogen. “By overcoming significant capital and time barriers of entry needed to build GMP capabilities at scale, this venture is expected to significantly expedite both research and manufacturing,” said Ryan Saadi, CEO of Tevogen Bio. “This facility will be instrumental in advancing our mission to bring innovative solutions to market with speed and cost efficiency.” About Tevogen Bio Tevogen 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 for the treatment of infectious diseases, cancers, and neurological disorders, aiming to address the significant unmet needs of large patient populations. Tevogen 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 has reported positive safety data from its proof-of-concept clinical trial, and its key intellectual property assets are wholly owned by the company, not subject to any third-party licensing agreements. These assets include three granted patents, nine pending US and twelve ex-US pending patents, two of which are related to artificial intelligence. Tevogen is driven by a team of highly experienced industry leaders and distinguished scientists with drug development and global product launch experience. Tevogen’s leadership believes that accessible personalized therapeutics are the next frontier of medicine, and that disruptive business models are required to sustain medical innovation...