Tevogen CEO Reaffirms the Company’s Commitment to Closing the Information Gap on Its Multi-Billion-Dollar Assets, Following the Release of Revenue Projections

Rhea-AI Summary

Tevogen Bio (Nasdaq: TVGN), a clinical-stage biotech developing off-the-shelf T cell therapeutics, plans to update shareholders on its multi-billion dollar asset valuation following a recent $1b+ revenue potential announcement. CEO Ryan Saadi emphasizes the company's commitment to transparency and shareholder interests.

Key achievements include:

• Founding in 2020 and launch of proprietary ExacTcell technology
• 3 U.S. patents granted by 2022, with 9 pending and 12 international applications
• $4.2 billion valuation as highest valued biotech unicorn of 2022
• Positive proof-of-concept clinical trial results for TVGN 489 in 2023
• Introduction of Tevogen.AI and joining Microsoft for Startups program
• Public debut on Nasdaq in February 2024
• Inclusion in Russell 3000® Index

The company's pipeline includes treatments for SARS-CoV-2 infections, various cancers, and multiple sclerosis.

Positive

• Positive proof-of-concept clinical trial results for TVGN 489, showing rapid reduction of viral load
• Inclusion in the Russell 3000® Index, indicating growing industry presence
• Joining Microsoft for Startups program, gaining access to AI expertise and resources
• Successful public debut on Nasdaq in February 2024
• $4.2 billion valuation as highest valued biotech unicorn in 2022
• Extensive patent portfolio with 3 granted U.S. patents and multiple pending applications

Negative

• None.

Insights

Financial Analyst

Tevogen Bio's recent announcements and pipeline updates signal significant potential for investors. The company's $1b+ revenue potential announcement and upcoming multi-billion dollar asset valuation update are substantial indicators of growth. With a diverse pipeline targeting high-value indications like COVID-19, cancer and multiple sclerosis, Tevogen is positioning itself as a major player in the immunotherapy space.

The company's inclusion in the Russell 3000® Index and its $4.2 billion valuation as a biotech unicorn in 2022 demonstrate market confidence. The positive proof-of-concept results for TVGN 489 in high-risk COVID-19 patients, showing safety and efficacy, are particularly promising. Tevogen's robust intellectual property portfolio, including granted patents and numerous pending applications, provides a strong foundation for future value creation.

However, investors should note that revenue projections and asset valuations are forward-looking and subject to risks. The transition from clinical-stage to commercial success remains a important challenge. The company's ability to execute on its pipeline and translate its technology into marketable products will be key factors to watch.

Biotechnology Expert

Tevogen Bio's ExacTcell technology platform for creating off-the-shelf, genetically unmodified T cell therapeutics represents a significant advancement in the field. The company's focus on both infectious diseases and cancers with this platform demonstrates its versatility and potential broad applicability.

The positive results from TVGN 489's clinical trial, showing rapid viral load reduction without significant adverse events, are particularly noteworthy. This suggests a favorable safety profile and potential efficacy, which are important for advancing through later-stage trials and eventual commercialization.

Tevogen's integration of AI through Tevogen.AI and its partnership with Microsoft for Startups could accelerate innovation and potentially reduce development costs. This strategic move aligns with industry trends towards leveraging AI in drug discovery and development.

The company's extensive patent portfolio, covering both its core technology and AI applications, provides a strong competitive moat. However, the true value of these assets will depend on successful clinical development and market entry of its pipeline candidates.

WARREN, N.J., Oct. 14, 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, plans to update shareholders on multi-billion dollar asset valuation following this week’s $1b+ revenue potential announcement.

“Our shareholders have placed their trust in us, and that is a privilege we take with the utmost seriousness. We are committed to closing the information gap to safeguard their interests and ensure they have full visibility into Tevogen Bio’s progress. This week, we will report on the substantial revenue potential of our pipeline, and in the near future, we will provide a comprehensive update on our asset valuation,” remarked Ryan Saadi, MD, MPH, Founding CEO, and 2023 Nobel Nominee.

Pipeline

• TVGN 489:
  • Treatment of SARS-CoV-2 infection in patients with B cell hematologic cancer
  • Treatment of SARS-CoV-2 infection in patients with other cancers
  • SARS-CoV-2 infection in patients under treatment for rheumatoid arthritis
  • SARS-CoV-2 infection in patients under treatment for psoriatic arthritis
  • Treatment of Long COVID
• TVGN 920: Cervical cancer prevention
• TVGN 930: EBV-associated lymphomas
• TVGN 960: Mouth and throat cancer
• TVGN 601: Multiple sclerosis

Key Achievements:

• In June of 2020, Tevogen Bio is founded and launched its proprietary ExacTcell technology, designed to create accessible and disease-specific cellular immunotherapies.
• Tevogen Bio is granted 3 U.S. patents by 2022; there are currently 9 additional patents pending, including 2 for Artificial Intelligence, and 12 international applications filed.
• Tevogen Bio is recognized as the highest valued biotech unicorn of 2022, with an independent $4.2 billion valuation.
• By 2023, positive proof-of-concept clinical trial results are announced for TVGN 489, Tevogen Bio’s allogeneic CD8+ T cell therapy for high-risk SARS-CoV-2 patients. No dose-limiting toxicities or significant adverse events were reported, and secondary endpoints show rapid reduction of viral load, highlighting the potential of the therapy.
• Tevogen.AI is introduced to create artificial intelligence solutions for greater patient accessibility and quicker innovation while decreasing operating cost. Recently, Tevogen.AI has joined the Microsoft for Startups program gaining access to experts and resources from a world-leading AI company.
• On February 15, 2024, Tevogen Bio celebrates its public debut by ringing the Nasdaq Opening Bell, marking its first day of trading on the public market.
• Tevogen Bio is now included in the Russell 3000® Index, reflecting its growing presence and impact in the biotech industry.
  

Intellectual Property:

Tevogen Bio received two granted patents in December 2021 and one in January 2022 from the United States Patent and Trademark Office (USPTO) for Covid-19 Peptide Specific T-Cells and Methods of Treating and Preventing Covid-19.

• Patent Number 11207401
• Patent Number 11219684
• Patent Number 11191827
  

In June 2022, a Patent Cooperation Treaty (PCT) application covering Virus Specific T-Cells and Methods of Treating and Preventing Viral Infections was published. This application entered the National Stage in the US, Australia, Canada, Europe, Hong Kong, and Japan.

• Publication Number WO 2022/125746
  

In February 2023, a PCT application covering Methods for Developing CD3+CD8+ Cells Against Multiple Viral Epitopes for Treatment of Viral Infections Including Variants Evolving to Escape Previous Immunity was published. This application entered the National Stage in the US, Australia, Canada, Europe, Japan, Qatar, Saudi Arabia, and United Arab Emirates.

• Publication Number WO 2023/009770
  

Tevogen Bio also had two provisional patent applications in place as of December 2023 for its approach to leveraging artificial intelligence in expediting target detection to accelerate product development:

• AI Algorithm to Predict Immunologically Active HLA-Peptide Complexes
• AI Algorithms to Predict T Cell Receptor Engagement to Specific HLA+ Peptide Complexes

As of September 2024, applications have also been filed for Antigen-Specific T Cell Receptor Engineered T Cells (TCR-T) And Methods of Treating Cancer as well as Tumor Cell Expression of Viral Antigen by Targeting With Stealth Liposome Or Antibody And Subsequent Elimination With Viral Specific CTLs.

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

FAQ

What is Tevogen Bio's stock symbol on Nasdaq?

Tevogen Bio's stock symbol on Nasdaq is TVGN.

When did Tevogen Bio (TVGN) go public on Nasdaq?

Tevogen Bio (TVGN) went public on Nasdaq on February 15, 2024.

What was Tevogen Bio's valuation as a biotech unicorn in 2022?

Tevogen Bio was valued at $4.2 billion in 2022, making it the highest valued biotech unicorn that year.

What is the primary focus of Tevogen Bio's (TVGN) therapeutics?

Tevogen Bio (TVGN) focuses on developing off-the-shelf, genetically unmodified T cell therapeutics to treat infectious diseases and cancers.

What is the name of Tevogen Bio's proprietary technology launched in 2020?

Tevogen Bio launched its proprietary ExacTcell technology in 2020.