Tevogen Bio CEO Named to NJBIZ 2025 Health Care Power List as Company Advances Commercialization; Reaffirms Timeframe on Previously Announced Forecast

Rhea-AI Summary

Tevogen Bio (Nasdaq: TVGN) announced two key developments: First, CEO Ryan Saadi has been named to the 2025 Health Care Power List by NJBIZ, recognizing his leadership in healthcare innovation. Second, the company appointed David E. Banko as Global Head of Government Affairs and Patient Access, who will focus on advancing patient access and securing coding, coverage, and reimbursement pathways.

The company reaffirmed its previously announced topline forecast of $1 billion in launch year for Tevogen Bio Oncology and nearly $1 billion for Tevogen Bio Specialty Care. These developments align with the company's commercialization strategy as it continues to advance its AI-driven immunotherapy drug discovery platform.

Positive

• Projected $1 billion launch year revenue for Oncology division
• Additional $1 billion projected revenue from Specialty Care division
• Strategic hire of Global Head of Government Affairs to advance commercialization

Negative

• Revenue projections are forecasts only, with no current actual revenue

WARREN, N.J., March 26, 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, is pleased to share that Founder and CEO, Ryan Saadi, MD, MPH, has been named to the 2025 Health Care Power List by NJBIZ. This recognition highlights Dr. Saadi’s leadership and commitment to advancing healthcare innovation and accessibility in New Jersey and beyond.

This announcement coincides with a significant milestone in Tevogen’s growth, the appointment of David E. Banko, as Global Head of Government Affairs and Patient Access. Mr. Banko’s focus will include advancing patient access, engaging with public and private payers, and securing coding, coverage, and reimbursement pathways, all essential to the company’s commercialization strategy.

Mr. Banko’s appointment along with the Company’s recent developments supports the previously announced topline forecast of $1 billion in launch year for Tevogen Bio Oncology and nearly $1 billion for Tevogen Bio Specialty Care.

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

FAQ

What is Tevogen Bio's (TVGNW) projected revenue for its launch year?

Tevogen Bio projects $1 billion in launch year revenue for its Oncology division and nearly $1 billion for its Specialty Care division.

Who is the new Global Head of Government Affairs at Tevogen Bio (TVGNW)?

David E. Banko has been appointed as Global Head of Government Affairs and Patient Access at Tevogen Bio.

What recognition did Tevogen Bio's (TVGNW) CEO receive in 2025?

CEO Ryan Saadi was named to the 2025 Health Care Power List by NJBIZ.

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

Banko will focus on advancing patient access, engaging with public and private payers, and securing coding, coverage, and reimbursement pathways.