Tevogen Signs Letter of Intent to Evaluate Potential Acquisition of a Management Services Organization

About this update from Tevogen Bio Holdings Inc.

Tevogen Signs Letter of Intent to Evaluate Potential Acquisition of a Management Services Organization WARREN, N.J., May 21, 2026 (GLOBE NEWSWIRE) -- Tevogen (“Tevogen Bio Holdings Inc.” or “Company”) (Nasdaq: TVGN) today announced that it has entered into a signed, non-exclusive, non-binding Letter of Intent (“LoI”) to evaluate a potential transaction with a Management Services Organization (“MSO”). If consummated, the proposed transaction could expand Tevogen’s healthcare infrastructure capabilities and support the Company’s evolution into a revenue-generating healthcare enterprise comprised of Tevogen Bio, its biotechnology arm; Tevogen.AI, its technology arm; and, subject to completion of proposed transactions, a healthcare services arm that may include management services and contract research operations. “We anticipate this opportunity together with previously announced CRO evaluation and other strategic acquisition initiatives, if consummated, could potentially pave Tevogen’s path to realizing approximately $100 million in combined annual revenue,” said Tevogen founding CEO Ryan Saadi, MD, MPH. The proposed transaction remains subject to, among other things, completion of due diligence, negotiation and execution of definitive documentation, required approvals, and satisfaction of customary closing conditions. Tevogen is also actively considering other transactions with a focus on life sciences and healthcare-related businesses; however, there can be no assurance that any such transaction will be consummated. About Tevogen Tevogen is a socially integrated healthcare enterprise built on the principles of affordability, efficiency, and scientific rigor. The company leverages artificial intelligence and precision T cell therapy platforms, a patient-first and cost-disciplined operating model, and engagements with global technology leaders to support the development of advanced, life-saving therapies across multiple therapeutic areas and scalable solutions for the broader healthcare system. Tevogen Bio, the company’s lead initiative, has completed a proof-of-concept clinical trial demonstrating the potential of its single-HLA-restricted, genetically unmodified allogeneic T cells. Tevogen Bio’s pipeline spans virology, oncology, and neurology, with programs built on the company’s proprietary ExacTcell™ platform. Tevogen.AI is designed to transform drug de...

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