Full Press Release Details
Tevogen Bio is a fully functional biotech, with investor-valued assets over $10 billion achieved with under $40 million in spending.
Approximately 78% of Tevogen Bio's common stock is held by company officers.
WARREN, N.J., Nov. 05, 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, is pleased to announce that its Founder and CEO, Dr. Ryan Saadi, MD, MPH, has been recognized by ROI-NJ as an Influencer in the Health Care sector. This acknowledgment highlights Tevogen Bio’s commitment to delivering advanced immunotherapies at a commercially viable and economically sustainable price.
“In today’s market reality, efficiency and affordability are essential for sustainable business success. One important decision for biotech founders is how much equity to retain, a choice that reflects their commitment to the company’s mission and appeals to investors and partners with a shared purpose. Guided by these principles, Tevogen Bio is a fully operational biotech with assets valued in excess of $10 billion by our investors, all achieved with under $40 million in expenditures.” commented Ryan Saadi, MD, MPH, Founder and CEO of Tevogen Bio. “Tevogen Bio’s ~78% ownership of common stock by company officers is a testament to our discipline, cost-efficient model, and commitment to meaningful progress.”
Tevogen is a clinical-stage specialty immunotherapy company harnessing CD8+ cytotoxic T lymphocytes, to develop off-the-shelf, genetically unmodified T cell therapeutics to treat infectious disease and cancers, 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 and numerous pending patents, two of which are related to artificial intelligence.
Tevogen is driven by a team of experienced industry leaders and 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.
Tevogen Bio Communications
T: 1 877 TEVOGEN, Ext 701
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7de0f8f6-72e5-430d-a5e8-d283d26ec6d2