Tevogen Bio Appoints David E. Banko as Global Head of Government Affairs and Patient Access, Advances Commercialization Plan

Rhea-AI Summary

Tevogen Bio (Nasdaq: TVGN) has appointed David E. Banko, CPA as Global Head of Government Affairs and Patient Access to advance its commercialization strategy. Banko brings over 30 years of experience in market access and health policy across pharma, medical devices, diagnostics, and hospital finance.

In his new role, Banko will lead market access strategies for Tevogen's product portfolio in oncology, virology, neurology, and rheumatology. His responsibilities include:

• Advancing patient access to therapies under development
• Engaging with government and private payers
• Ensuring Health Technology Assessment readiness
• Securing appropriate coding, coverage, and provider reimbursement at launch
• Leading policy engagement with the current administration

Banko's previous experience includes roles at Cordis Corp (former Johnson & Johnson company) and B. Braun Medical Inc., where he successfully shaped Medicare's national coverage policies and developed strategic global pricing initiatives.

Positive

• Strategic hire of experienced executive with 30+ years in market access and health policy
• Advancement toward commercialization readiness
• Expansion of product portfolio across multiple therapeutic areas
• Development of market access infrastructure for future product launches

Negative

• Company still in clinical-stage with no commercialized products
• Significant investment in commercial infrastructure before product approval

WARREN, N.J., March 25, 2025 (GLOBE NEWSWIRE) -- Tevogen Bio (“Tevogen Bio Holdings Inc.” or “Company”) (Nasdaq: TVGN), a clinical-stage specialty immunotherapy biotech company leveraging AI-driven immunotherapy drug discovery, today announced the appointment of David E. Banko, CPA, a leading expert with three decades of industry experience in market access and health policy, to its leadership team as Global Head of Government Affairs and Patient Access.

In this critical role, Mr. Banko will spearhead market access strategies in collaboration with R&D across Tevogen’s growing product portfolio in oncology, virology, neurology, and rheumatology to advance and support commercial readiness. His primary focus will be advancing patient access to the Company’s therapies under development, engaging with government and private payers, and ensuring Health Technology Assessment (HTA) readiness. These initiatives are core to Tevogen’s commercialization strategies, including securing appropriate coding, coverage, and provider reimbursement at launch. Mr. Banko will also lead policy engagement with the current administration to align on shared goals of improving patient accessibility and affordability of emerging medical innovations.

Mr. Banko brings 30+ years of experience across pharma, medical devices, diagnostics, and hospital finance, with past roles at Cordis Corp, a former Johnson & Johnson (NYSE: JNJ) company, and B. Braun Medical Inc. An expert in securing and enhancing market access for innovative technologies, he has successfully leveraged clinical evidence to shape Medicare’s national coverage policies, championed strategic global pricing, and developed initiatives that empower hospitals and physicians to advance the adoption of FDA-approved emerging breakthrough technologies.

“David’s appointment marks an important milestone in Tevogen’s transition toward commercialization readiness,” said Dr. Ryan Saadi, CEO and founder of Tevogen Bio. “Commercial success in today’s healthcare environment requires not only scientific excellence but also clearly defined value propositions for patients, providers, payers, and policymakers alike. David’s deep expertise in market access and health policy will be instrumental in ensuring our innovations are both accessible to patients and deliver lasting value across the healthcare ecosystem,” he added.

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.

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 and cancer; Tevogen’s plans to expand its efforts in artificial intelligence; Tevogen’s ability to develop additional product candidates; Tevogen’s use of funds from the grant; and the potential receipt of additional future grants. 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 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; 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 

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a855d43e-e0ad-4e29-b87b-cc5a0981aa66

FAQ

What is the significance of David Banko's appointment for Tevogen Bio (TVGNW)?

His appointment marks Tevogen's transition toward commercialization readiness, bringing expertise in market access and health policy to ensure their innovations are accessible and valuable across the healthcare ecosystem.

What therapeutic areas will David Banko oversee at Tevogen Bio (TVGNW)?

He will oversee market access strategies for Tevogen's product portfolio in oncology, virology, neurology, and rheumatology.

What are David Banko's main responsibilities at Tevogen Bio (TVGNW)?

His main responsibilities include advancing patient access, engaging with payers, ensuring HTA readiness, securing reimbursement, and leading policy engagement with the administration.

What relevant experience does David Banko bring to Tevogen Bio (TVGNW)?

Banko brings 30+ years of experience in pharma, medical devices, diagnostics, and hospital finance, with successful track record at Cordis Corp (J&J) and B. Braun Medical.