Insider Brief
- Tevogen Bio secured an additional $8 million in non-dilutive funding from KRHP LLC, bringing total grant funding to $10 million, supporting its AI initiative, Tevogen.AI.
- Since partnering with Microsoft, Tevogen.AI has enhanced its PredicTcell platform, advancing predictive models for viruses and diseases while expanding its AI team.
- Tevogen Bio remains focused on developing CD8+ T cell therapies for cancer and viral infections, emphasizing efficient operations and sustainability without excessive capital raises.
PRESS RELEASE — Tevogen Bio (“Tevogen Bio Holdings Inc.” or “Company”) (Nasdaq: TVGN), a clinical-stage specialty immunotherapy biotech, announced in January 2025, it received $2 million on non-dilutive grant funding from KRHP LLC (“Grantor”) with an additional $8 million to be contributed contingent on the Grantor’s review of the Company’s activities. Tevogen Bio is pleased to announce it will receive the remaining $8 million in funding from the Grantor prior to the end of the current fiscal quarter based on the Grantor’s evaluation of the Company’s progress, particularly in Tevogen Bio’s artificial intelligence effort, Tevogen.AI. This $8 million grant, similar to the initial grant amount, is not dilutive to existing Tevogen Bio shareholders.
Since entering an agreement with Microsoft (Nasdaq: MSFT), Tevogen.AI has enhanced the PredicTcell platform by advancing a dataset of viruses and diseases, supported by wet lab science, to improve model training and development. In parallel, Tevogen.AI has been expanding its team with the goal of delivering predictive models.
Tevogen Bio continues to maintain efficient operations in its mission to develop therapies for treatment of cancers and viral infections with operating expenses of $9.7 million for the first three fiscal quarters of 2024. As a product of this efficient model, the $8 million grant will contribute meaningfully towards the Company’s mission.
“Tevogen Bio’s disciplined business model is designed for long-term success without reliance on excessive capital raises or shareholder dilution. This additional $8 million in non-dilutive funding reinforces the efficiency and sustainability of our approach, which we believe must be the new standard in biotech,” commented Ryan Saadi, MD, MPH, Founder and CEO of Tevogen Bio.
About Tevogen Bio
Tevogen Bio 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 to treat infectious disease and cancers, aiming to address the significant unmet needs of large patient populations. Tevogen Bio 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 Bio 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 Bio is driven by a team of highly experienced industry leaders and distinguished scientists with drug development and global product launch experience. Tevogen Bio’s leadership believes that accessible personalized therapeutics are the next frontier of medicine, and that disruptive business models are required to sustain medical innovation.
Contacts
Tevogen Bio Communications
T: 1 877 TEVOGEN, Ext 701
