Tevogen Bio Nears Finalization of Agreement to Enhance R&D and Manufacturing Capabilities; $36 Million Line of Credit Available for Continued Operations
2024年11月9日 - 5:36AM
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, nears finalization of agreement
with CD8 Technology for a turn-key facility intended to support
both pre-clinical research and GMP manufacturing capabilities,
staffed by Tevogen.
In tandem with this announcement, Tevogen Bio reaffirms its
existing agreement which provides access to a $36 million line of
credit to ensure ongoing operations and fuel future growth.
Tevogen Bio’s leadership is also mindful of current pressures on
its stock price. The leadership remains committed to maintaining
shareholder value and continues to focus on Tevogen Bio’s financial
health, operational progress, and mission to deliver transformative
and affordable therapies to patients. Tevogen Bio’s management team
is diligently working to position the company for long-term success
for both shareholders and patients, ensuring that decisions are
aligned with sustainable growth. Tevogen Bio’s latest financials
reveal the company operates without substantial debt and maintains
adequate cash reserves to fund efficient operations without any
near-term cash flow challenges.
Kirti Desai, Tevogen Bio’s Chief Financial Officer, commented,
“As we prepare to file our most recent quarterly financials, I want
to highlight that Tevogen Bio has the funding it needs to sustain
its operations and continue executing our strategy. We remain
attentive to enhancing shareholder value, which is always top of
mind for our team as we work to drive long-term success.”
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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Tevogen Bio (NASDAQ:TVGN)
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から 12 2023 まで 12 2024