Tevogen Bio Enters Agreement for Cell Therapy Facility

Tevogen Bio Holdings Inc., listed on Nasdaq as TVGN, announced an agreement with CD8 Technology Services LLC to develop or acquire a turn-key facility aimed at bolstering its in-house research and GMP cell therapy production capabilities. This strategic alignment intends to address capital barriers related to GMP scalability, thereby fast-tracking Tevogen's development timelines while ensuring cost efficiency and operational flexibility. The agreement, with an initial 12-month term renewable automatically, is aligned with the company's previously announced topline forecasts, positioning it to advance its range of genetically unmodified CD8+ T cell therapeutics. This expansion aligns with Tevogen's mission to enhance patient access to treatments for infectious diseases and cancer. The agreement leverages CD8's resources, under the leadership of Dr. Manmohan Patel, who holds significant equity in Tevogen Bio. Despite the promising outlook, Tevogen has acknowledged the inherent risks tied to market competition, regulatory ambiguity, and the company's ability to maintain growth trajectory and innovation pace.