Tevogen Bio Announces Full Year 2023 Financial Results and Upcoming Operational Objectives

• Acquire cell therapy manufacturing facility with clinical and commercial capabilities
  
• Further ExacTcell platform for additional clinical trials based on successful completion of POC
• Highlight full year financial results and clarify key financial items
  

WARREN, N.J., May 01, 2024 (GLOBE NEWSWIRE) -- Tevogen Bio Holdings Inc. (“Tevogen” or “Tevogen Bio”) (Nasdaq: TVGN), a clinical-stage specialty immunotherapy biotech pioneer developing off-the-shelf, genetically unmodified T cell therapeutics in oncology, neurology, and virology, announced financial results for full year 2023, business highlights, and upcoming operational objectives.

“Saving lives remains our duty, and to that end, we remain committed to furthering our ExacTcell technology platform by moving Tevogen’s allogeneic cytotoxic CD8+ T lymphocytes (CTLs) into the next phase of clinical trials” said Dr. Ryan Saadi, Founder and Chief Executive Officer of Tevogen Bio. “Moving the first clinical product of Tevogen’s ExacTcell platform, an allogeneic target specific CTL, from inception to clinical trial in just 18 months validates Tevogen’s unique business model. I would also like to assure numerous Long COVID patients and their families who have contacted us that exploring the therapeutic potential of TVGN 489 for Long COVID remains my personal priority.” 

Tevogen Bio is in discussions to acquire cell therapy manufacturing facilities that are expected to provide Tevogen Bio with the capability for both clinical and commercial manufacturing of drug candidates from its ExacTcell technology platform. These facilities would support manufacturing for TVGN 489’s continued development, as well as provide the potential for future clinical trials for virally induced cancers and multiple sclerosis. In addition to manufacturing capability, these facilities are also expected to enhance Tevogen Bio’s research and development capabilities and serve as new product innovation hubs.

In January, Tevogen Bio announced positive POC clinical trial results for TVGN 489 for treatment of high-risk patients. The primary study endpoints were related to safety and there were no dose-limiting toxicities or significant adverse events related to TVGN 489 observed in any patient at any of the four dose levels. Unlike CAR T platforms, Tevogen Bio’s ExacTcell platform targets antigens present only on diseased cells and is designed for an ambulatory setting. The expected yield per lot is in hundreds of doses, providing pricing flexibility for greater access.