Tevogen Bio Prepares Organizational Readiness to Support Company’s Growth Strategy
Tevogen Bio (Nasdaq: TVGN) announced organizational changes to support growth, including expanded responsibilities for key leaders. The company reported significant financial improvements with a $52.5 million reduction in net loss and sufficient capital for 33 months of operations. Revenue forecasts project $1 billion in launch year for oncology with 5-year estimates of $10-14 billion, and specialty care projections of nearly $1 billion in launch year with 5-year estimates of $18-22 billion. The company signed a Letter of Intent with CD8 Technology for a $50 million R&D and manufacturing facility. Notably, Tevogen maintains 78% founding team ownership, contrasting with industry norms of around 5%.
Tevogen Bio (Nasdaq: TVGN) ha annunciato cambiamenti organizzativi per supportare la crescita, comprese le responsabilità ampliate per i leader chiave. L'azienda ha riportato significativi miglioramenti finanziari con una riduzione della perdita netta di 52,5 milioni di dollari e capitale sufficiente per 33 mesi di operazioni. Le previsioni di fatturato stimano 1 miliardo di dollari nel primo anno di lancio per l'oncologia, con stime a 5 anni di 10-14 miliardi, e proiezioni per la cura specializzata di quasi 1 miliardo di dollari nel primo anno di lancio con stime a 5 anni di 18-22 miliardi. L'azienda ha firmato una Lettera di Intenti con CD8 Technology per una struttura R&D e di produzione da 50 milioni di dollari. È interessante notare che Tevogen mantiene il 78% della proprietà del team fondatore, in contrasto con le norme del settore di circa il 5%.
Tevogen Bio (Nasdaq: TVGN) anunció cambios organizativos para apoyar el crecimiento, incluyendo responsabilidades ampliadas para líderes clave. La compañía reportó mejoras financieras significativas con una reducción de la pérdida neta de 52.5 millones de dólares y capital suficiente para 33 meses de operaciones. Las proyecciones de ingresos estiman 1 mil millones de dólares en el año de lanzamiento para oncología, con estimaciones a 5 años de 10-14 mil millones, y proyecciones para atención especializada de casi 1 mil millones de dólares en el año de lanzamiento con estimaciones a 5 años de 18-22 mil millones. La compañía firmó una Carta de Intención con CD8 Technology para una instalación de I+D y manufactura de 50 millones de dólares. Es notable que Tevogen mantiene el 78% de propiedad del equipo fundador, en contraste con las normas de la industria de aproximadamente el 5%.
Tevogen Bio (Nasdaq: TVGN)는 성장 지원을 위해 조직 개편을 발표했으며, 주요 리더들의 책임이 확대되었습니다. 회사는 5천250만 달러의 순손실 감소로 상당한 재정 개선을 보고했으며, 33개월 동안의 운영을 위한 충분한 자본을 보유하고 있습니다. 수익 예측은 종양학 출시 첫 해에 10억 달러로 예상되며, 5년 간 추정치는 100억-140억 달러에 이르고, 전문 치료 분야에서 출시 첫 해에 거의 10억 달러가 예상되며 5년 간 추정치는 180억-220억 달러입니다. 회사는 CD8 Technology와 5천만 달러 규모의 연구개발 및 제조 시설에 대한 양해각서를 체결했습니다. 특히 Tevogen은 창립 팀 소유권의 78%를 유지하며, 이는 업계 평균인 약 5%와 대조적입니다.
Tevogen Bio (Nasdaq: TVGN) a annoncé des changements organisationnels pour soutenir la croissance, y compris l'élargissement des responsabilités des dirigeants clés. La société a signalé des améliorations financières significatives avec une réduction de la perte nette de 52,5 millions de dollars et un capital suffisant pour 33 mois d'opérations. Les prévisions de revenus estiment 1 milliard de dollars pour l'année de lancement dans le secteur de l'oncologie, avec des estimations sur 5 ans de 10 à 14 milliards, et des projections dans les soins spécialisés d'environ 1 milliard de dollars pour l'année de lancement avec des estimations sur 5 ans de 18 à 22 milliards. L'entreprise a signé une Lettre d'intention avec CD8 Technology pour une installations de R&D et de fabrication de 50 millions de dollars. Il est à noter que Tevogen maintient 78 % de la propriété de l'équipe fondatrice, ce qui contraste avec les normes de l'industrie d'environ 5 %.
Tevogen Bio (Nasdaq: TVGN) hat organisatorische Änderungen angekündigt, um das Wachstum zu unterstützen, darunter erweiterte Verantwortlichkeiten für wichtige Führungskräfte. Das Unternehmen berichtete von erheblichen finanziellen Verbesserungen mit einer Reduzierung des Nettoverlustes um 52,5 Millionen Dollar und ausreichend Kapital für 33 Monate Betrieb. Die Umsatzprognosen für das erste Jahr im Bereich Onkologie liegen bei 1 Milliarde Dollar, mit 5-Jahres-Schätzungen von 10-14 Milliarden, und die Prognosen für spezielle Pflege belaufen sich im ersten Jahr auf nahezu 1 Milliarde Dollar, mit 5-Jahres-Schätzungen von 18-22 Milliarden. Das Unternehmen hat eine Absichtserklärung mit CD8 Technology für eine Forschungs- und Entwicklungseinrichtung sowie Produktionsstätte in Höhe von 50 Millionen Dollar unterzeichnet. Auffällig ist, dass Tevogen 78% des Eigentums des Gründerteams behält, im Gegensatz zu den branchenüblichen 5%.
- Net loss reduced by $52.5 million
- 33 months of operational funding secured
- Projected oncology revenue of $10-14 billion over 5 years
- Projected specialty care revenue of $18-22 billion over 5 years
- High founding team ownership at 78%
- Elimination of nearly all liabilities
- None.
Insights
The latest organizational changes at Tevogen Bio come amid significant financial improvements and ambitious revenue forecasts. The company has demonstrated strong financial discipline by reducing net loss by
Most notably, the company maintains
WARREN, N.J., Nov. 26, 2024 (GLOBE NEWSWIRE) -- 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, today announced addition responsibilities for key leaders to further expand company capabilities.
As part of this leadership evolution:
- Tapan V Shah, Head of Investor Relations and Corporate Development, will take on added responsibility for US Government Affairs and Policy.
- William Keane, Vice President of Strategic Initiatives, will assume additional responsibilities for New Business Development.
- Wojtek Stobinski, Corporate Identity Lead, will oversee the business integration of any potential future acquisitions.
Recent Announcements:
- Third Quarter 2024 Financial Results. Reduction of net loss by
$52.5 million , elimination of nearly all liabilities, sufficient available capital to fund operations for the next 33 months. - Oncology Top-Line Revenue Forecast.
$1 Billion in launch year and cumulative 5-year estimate between$10 Billion and$14 Billion . - Specialty Care Top-Line Revenue Forecast. Nearly
$1 Billion in launch year and cumulative 5-year estimate between$18 Billion and$22 Billion . - Letter of Intent with CD8 Technology to Build Up to a
$50 Million R&D and Manufacturing Facility. CD8 Technology Services, LLC to provide turn-key facility for Tevogen Bio. No Impact on Shareholder Equity.
Commitment to C.O.R.E. Values: Curiosity, Optimism, Respect, and Equality
Tevogen Bio’s culture, known as C.O.R.E., underpins the company’s mission and fosters a collaborative environment built on Curiosity, Optimism, Respect, and Equality. These values are more than guiding principles—they are foundational to how Tevogen operates, empowering teams to push the boundaries of science while fostering a diverse and inclusive workplace.
“Tevogen’s C.O.R.E. values reflect leaderships commitment to embracing diverse perspectives, encouraging a readiness to learn, and creating solutions with a shared purpose,” said Victor Sordillo, Board Member of Tevogen Bio.
Ryan Saadi, MD, MPH, Founder and CEO, Tevogen Bio, commented, “I commend Tevogen’s leadership for steering the company’s remarkable growth strategy. With over three decades in this sector, I see Tevogen’s significant achievements since inception as a testament to the strength of our efficient business model. While excessive dilution at public listing, leaving founding teams with around
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 Communications
T: 1 877 TEVOGEN, Ext 701
Communications@Tevogen.com
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