WARREN, NJ, Oct. 23, 2024 (GLOBE NEWSWIRE) — Tevogen Bio (“Tevogen” or “Tevogen Bio Holdings Inc.”) (Nasdaq: TVGN), a clinical specialty immunotherapy biotechnology that delivers off-the-shelf, genetically unmodified T cell therapies for the treatment of 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 and provides unparalleled access to Microsoft’s extensive ecosystem. The partnership is intended 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 patient populations is promoted.
Mittul Mehta, CIO and Head of Tevogen AI commented: “The leadership at Tevogen Bio is extremely optimistic about the future for Tevogen as a partner with Microsoft. Participating in Microsoft for Startups underlines Microsoft’s belief in Tevogen’s ability to not only innovate, but also deliver results.” The partnership with Microsoft, the leading innovator in AI, is a substantial investment in Tevogen’s goal of providing affordable and accessible therapies. By utilizing Microsoft’s advanced 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 $60 billion to $110 billion in economic value annually for pharmaceutical and medical technology companies, with $18 to $30 billion of that value attributable to commercial functions alone. Mr. Mehta, a Microsoft alum, added: “The numbers are staggering, and we are excited to contribute to that economic value.”
About Tevogen Bio
Tevogen is a clinical-stage specialty immunotherapy company leveraging one of nature’s most powerful immunological weapons, CD8+ cytotoxic T lymphocytes, to develop off-the-shelf, genetically unmodified precision T cell therapies for the treatment of infectious diseases , cancers and neurological disorders. aimed at addressing the significant unmet needs of large patient populations. Tevogen’s leadership believes that sustainability and commercial success in today’s healthcare era depend 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 properties are wholly owned by the company and are not subject to third-party licensing agreements. These assets include three issued patents, nine pending US and twelve ex-US patents, two of which relate to artificial intelligence.
Tevogen is led by a team of highly experienced industry leaders and leading scientists with experience in drug development and global product launches. Tevogen’s leadership believes that accessible, personalized therapies are the next frontier of medicine, and that disruptive business models are needed to support medical innovation.
Forward-Looking Statements
This press release contains certain forward-looking statements, including, but not limited to, statements regarding: expectations regarding the healthcare and biopharmaceutical industries; Tevogen’s development of, 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 utilizing Tevogen’s ExacTcell platform; the expected 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 ‘possible’, ‘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 covered by control of the company. could cause the actual results, performance or achievements of the Company to differ materially from those 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 at acceptable conditions 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 operations generally; the outcome of any legal proceedings initiated against Tevogen; changes in the markets in which Tevogen competes, including with respect to the competitive landscape, technological evolution or regulatory changes; changes in domestic and global general economic conditions; the risk that Tevogen may be unable to execute its growth strategies or experience difficulties in managing its growth and expanding its operations; the risk that Tevogen may be unable to develop and maintain effective internal controls; costs associated with the business combination and failure to realize the expected benefits of the business combination; the inability to realize 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 growth economically and hire key employees and to preserve; the risk that Tevogen may fail to keep pace with rapid technological developments to deliver new and innovative products and services or make substantial investments in failed new products and services; the ability to develop, license or acquire new therapies; 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 legal suits or proceedings relating to Tevogen’s activities; uncertainties inherent in the conduct, costs and completion of preclinical studies and clinical trials; risks related to supervision, approval and commercial development; risks associated with the protection of intellectual property; Tevogen’s limited operational history; and the 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 on which they are made. Tevogen undertakes no obligation to update any forward-looking statements, except as required by applicable law.
