Full Press Release Details
WARREN, N.J., Oct. 17, 2024 (GLOBE NEWSWIRE) -- HMP Partners and The Patel Family LLP, leading investors in innovative healthcare ventures, congratulate Tevogen Bio (“Tevogen” or “Tevogen Bio Holdings Inc.”) (Nasdaq: TVGN) and founding CEO Dr. Ryan Saadi for being honored with prestigious proclamation by the Township of Warren, New Jersey, in recognition of their Nobel Prize nomination for pioneering business model to alleviate health inequality through breakthrough life-saving medical innovations.
Warren Township, New Jersey, Office of Mayor Victor J Sordillo, has recognized Tevogen Bio and its founding CEO, Ryan Saadi, MD, MPH, for their innovative business model aimed at addressing health inequality through the establishment of a multi-billion-dollar cell therapy biotech in Warren, NJ. On behalf of Warren Township, Mayor Sordillo and Deputy Mayor Lisa Lontai issued a proclamation to Tevogen Bio in recognition of this achievement, as well as their prestigious nomination for the 2023 Nobel Peace Prize. The nomination, made by Curtis Patton, PhD, Professor Emeritus of the Yale School of Public Health, honors Tevogen Bio’s efforts to democratize access to life-saving therapies.
“We are impressed by Leadership's extensive industry experience resulting in achieving key milestones in record times including granted patents and a product pipeline in multiple therapeutic areas. In 2022, Tevogen Bio was named as the highest-valued biotech unicorn at $4.2 billion. With further advancements, including positive proof-of-concept clinical trial, we estimate current market value of its robust intellectual property and product portfolio excluding other assets to exceed $10 billion in current market value with significant revenue potential,” said Hema Patel, Managing Partner of HMP Partners and The Patel Family LLP. “We are pleased to be a part of Tevogen’s journey and look forward to our continued support.”
Tevogen CEO Ryan Saadi, MD, MPH, 2023, Nobel Peace Prize nominee, said, “We are pleased to continue partnering with this exceptional group of investors who, as medical experts, recognize the vast potential of genetically unmodified personalized CD8+ Cytotoxic T lymphocytes for therapeutic purposes. As we prepare to share the multi-billion-dollar projected top-line revenue forecast later today, I want to thank all Tevogen shareholders for their continued support.”
About HMP Partners and The Patel Family LLP
HMP Partners and The Patel Family LLP are an investment consortium of medical doctors and a family office, managing assets in excess of $1 billion, focused on advancing life-saving technologies.
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
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Nobel Peace Prize Nomination