Tevogen CEO Expresses Gratitude for Unprecedented Public Support of Company’s Business Model of Commercial Success Through Patient Accessibility and Reaffirms His Commitment to Share Additional Details in the Coming Days
19 Octobre 2024 - 4:46AM
Tevogen Bio (“Tevogen” or “Tevogen Bio Holdings Inc.”) (Nasdaq:
TVGN) is a clinical-stage specialty immunotherapy biotech
developing off-the-shelf, genetically unmodified T cell
therapeutics to treat infectious disease and cancers.
Since being founded in 2020, Tevogen Bio has taken a unique
approach to both drug development and managing its business
operations. The company launched is proprietary ExacTcell™
technology, designed to create accessible and disease-specific
cellular immunotherapies. Tevogen Bio received 3 U.S. patents, with
an additional 9 patents pending, including 2 for Artificial
Intelligence, and has filed 12 international applications.
Additionally, the company reported positive proof-of-concept
clinical trial data for the first clinical product of its
proprietary technology.
As of the quarter ending June 30, 2024, officers of Tevogen Bio
held nearly 79% of the company’s outstanding shares. Any reported
sales by officers were made solely to satisfy the payment of tax
obligations relating to the vesting of restricted stock units and
were not made at the discretion of the reporting officer. Tevogen
CEO and founder, Dr. Saadi, MD, MPH, emphasized his commitment to
the company’s mission of bringing accessible therapeutics to
market. He noted, “The leadership team’s retention of 100% of their
equity reflects their confidence in the company’s potential. With
over half a billion shares traded on the open market this week, I
would like to express my gratitude for this unprecedented public
support for Tevogen’s business model.” Dr. Saadi added, “I was
pleased that Tevogen was able to provide updates on the company,
including, our pipeline, our oncology forecast of $1 billion in
launch year, and I expect to continue sharing details about
additional progress in the coming days.”
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.
Forward Looking Statements
This press release contains certain forward-looking statements,
including without limitation statements relating to: expectations
regarding the healthcare and biopharmaceutical industries;
Tevogen’s development of, the potential benefits of, and patient
access to its product candidates for the treatment of infectious
diseases, cancer and neurological disorders, including TVGN 489 for
the treatment of COVID-19 and Long COVID; Tevogen’s ability to
develop additional product candidates, including through use of
Tevogen’s ExacTcell platform; the anticipated benefits of
ExacTcell; expectations regarding Tevogen’s future clinical trials;
and Tevogen’s ability to generate revenue in the future.
Forward-looking statements can sometimes be identified by words
such as “may,” “could,” “would,” “expect,” “anticipate,”
“possible,” “potential,” “goal,” “opportunity,” “project,”
“believe,” “future,” and similar words and expressions or their
opposites. These statements are based on management’s expectations,
assumptions, estimates, projections and beliefs as of the date of
this press release and are subject to a number of factors that
involve known and unknown risks, delays, uncertainties and other
factors not under the company’s control that may cause actual
results, performance or achievements of the company to be
materially different from the results, performance or other
expectations expressed or implied by these forward-looking
statements.
Factors that could cause actual results, performance, or
achievements to differ from those expressed or implied by
forward-looking statements include, but are not limited to: that
Tevogen will need to raise additional capital to execute its
business plan, which may not be available on acceptable terms or at
all; the effect of the recent business combination with Semper
Paratus Acquisition Corporation (the “Business Combination”) on
Tevogen’s business relationships, operating results, and business
generally; the outcome of any legal proceedings that may be
instituted against Tevogen; changes in the markets in which Tevogen
competes, including with respect to its competitive landscape,
technology evolution, or regulatory changes; changes in domestic
and global general economic conditions; the risk that Tevogen may
not be able to execute its growth strategies or may experience
difficulties in managing its growth and expanding operations; the
risk that Tevogen may not be able to develop and maintain effective
internal controls; costs related to the Business Combination and
the failure to realize anticipated benefits of the Business
Combination; the failure to achieve Tevogen’s commercialization and
development plans and identify and realize additional
opportunities, which may be affected by, among other things,
competition, the ability of Tevogen to grow and manage growth
economically and hire and retain key employees; the risk that
Tevogen may fail to keep pace with rapid technological developments
to provide new and innovative products and services or make
substantial investments in unsuccessful new products and services;
the ability to develop, license or acquire new therapeutics; that
Tevogen will need to raise additional capital to execute its
business plan, which may not be available on acceptable terms or at
all; the risk of regulatory lawsuits or proceedings relating to
Tevogen’s business; uncertainties inherent in the execution, cost,
and completion of preclinical studies and clinical trials; risks
related to regulatory review, approval and commercial development;
risks associated with intellectual property protection; Tevogen’s
limited operating history; and those factors discussed or
incorporated by reference in Tevogen’s Annual Report on Form 10-K
and subsequent filings with the SEC.
You should not place undue reliance on forward-looking
statements, which speak only as of the date they are made. Tevogen
undertakes no obligation to update any forward-looking statements,
except as required by applicable law.
Contacts
Tevogen Bio CommunicationsT: 1 877 TEVOGEN, Ext 701
Communications@Tevogen.com
Tevogen Bio (NASDAQ:TVGN)
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