WARREN, NJ, October 23, 2024 (GLOBE NEWSWIRE) — Tevogen Bio (“Tevogen” or “Tevogen Bio Holdings Inc.”) (Nasdaq: TVGN), a clinical-stage specialty immunotherapy biotech developing off-the-shelf, non-genetically engineered T cell therapies to treat infectious diseases and cancers, announces that its artificial intelligence effort, Tevogen AI, has joined Microsoft (Nasdaq: MSFT) for startups. This partnership marks a significant milestone for Tevogen, providing unprecedented access to Microsoft’s vast ecosystem. The partnership is expected to accelerate and streamline the development of Tevogen’s proprietary algorithms, significantly advancing our mission to reduce the total cost of drug development, accelerate drug discovery, and deliver life-changing therapies to large populations of patients.
Mittul Mehta, CIO and Head of Tevogen AI commented: “The management of Tevogen Bio is extremely optimistic about the future of Tevogen as a Microsoft partner. Joining Microsoft for Startups underscores Microsoft’s belief in Tevogen’s ability to not only innovate, but also deliver results. The partnership with Microsoft, the leading innovator in the field of AI, represents a substantial investment in Tevogen’s goal of providing affordable and accessible therapies. By leveraging Microsoft’s cutting-edge AI technology, Tevogen aims to push the boundaries of what AI can achieve in the biotech industry.
According to the McKinsey Global Institute, generative AI could generate between $60 billion and $110 billion in economic value per year for pharmaceutical and medtech companies, with $18 billion to $30 billion attributed to business functions alone. Mr. Mehta, a Microsoft veteran, added: “The metrics are staggering and we are excited to contribute to this economic value. »
About Tevogen Bio
Tevogen is a clinical-stage specialty immunotherapy company harnessing one of nature’s most powerful immunological weapons, CD8+ cytotoxic T cells, to develop off-the-shelf, genetically unmodified precision T cell therapies for treatment of infectious diseases, cancers and neurological disorders. aimed at addressing the unmet needs of large patient populations. Tevogen Leadership believes that sustainability and commercial success in today’s healthcare era relies 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 core intellectual property assets are fully owned by the company and are not subject to any third-party licensing agreements. These assets include three issued, nine pending U.S. patents and twelve pending non-U.S. patents, two of which relate to artificial intelligence.
Tevogen is led by a team of highly experienced industry leaders and distinguished scientists with experience in drug development and product launches on a global scale. Tevogen executives believe that accessible personalized therapies are the next frontier in medicine and that disruptive business models are needed to support 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 its product candidates, the potential benefits and patient access to these 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 the use of Tevogen’s ExacTcell platform; the expected benefits of ExacTcell; expectations regarding future clinical trials of Tevogen; 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”, “objective”, “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 risks. other factors beyond the Company’s control that may cause the Company’s actual results, performance or achievements to be materially different from the results, performance or other expectations expressed or implied by such forward-looking statements.
Factors that could cause actual results, performance or achievements to differ from those expressed or implied in the forward-looking statements include, but are not limited to: the fact that Tevogen will need to raise additional capital to execute its plan business, which may not be available. on acceptable terms or not at all; the effect of the recent business combination with Semper Paratus Acquisition Corporation (the “Business Combination”) on Tevogen’s business relationships, results of operations and business generally; the outcome of any legal proceedings that may be brought against Tevogen; changes in the markets in which Tevogen competes, including with respect to its competitive landscape, technological developments or regulatory changes; changes in general domestic and global economic conditions; the risk that Tevogen may not be able to execute its growth strategies or encounter difficulties in managing its growth and expansion of its operations; the risk that Tevogen may not be able to develop and maintain effective internal controls; costs related to the Business Combination and the inability to realize the expected benefits of the Business Combination; the inability to achieve Tevogen’s commercialization and development plans and to identify and realize additional opportunities, which may be affected by, among other things, competition, Tevogen’s ability to grow and manage its growth in cost-effectively and to hire and retain key employees; the risk that Tevogen fails to keep pace with rapid technological developments to provide new and innovative products and services or to make substantial investments in unsuccessful new products and services; the ability to develop, license or acquire new therapeutic products; that Tevogen will need to raise additional capital to execute its business plan, which may not be available on acceptable terms, if at all; the risk of lawsuits or regulatory proceedings relating to Tevogen’s activities; uncertainties inherent in the execution, cost and performance of preclinical studies and clinical trials; risks related to regulatory review, approval and commercial development; risks associated with the protection of intellectual property; Tevogen’s limited operating history; and 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.
