- Funds will support advancement of Tevogen.AI, the Company's artificial intelligence-driven drug discovery initiative.
- The $1 million is part of up to $10 million in previously announced non-dilutive grant funding from KRHP LLC.
WARREN, N.J., Aug. 01, 2025 (GLOBE NEWSWIRE) -- Tevogen Bio Holdings Inc. ("Tevogen" or the "Company) (Nasdaq: TVGN), today announced that it expects to receive $1 million in grant funding to advance Tevogen.AI, its artificial intelligence-powered drug discovery and development program.
The funding would be provided under the previously announced grant agreement with KRHP LLC, under which Tevogen received $2 million in January 2025 and may receive up to an additional $8 million, for an aggregate of $10 million in non-dilutive funding. KRHP LLC is affiliated with an existing Tevogen investor. The Company expects to direct the expected new $1 million allocation toward accelerating Tevogen.AI's capabilities to enhance target discovery, shorten development timelines, and improve treatment accessibility for large patient populations.
"Tevogen.AI, our AI initiative, stands at the intersection of innovation and equity," said Dr. Ryan Saadi, Chairman and CEO of Tevogen. "This grant is an endorsement of its potential role in accelerating drug development, bringing down costs, speeding up timelines, and expanding access to precision cell therapies for those who need them most."
The Company remains focused on operating efficiency and strategically deploying funds to maximize shareholder value and patient impact.
Forward Looking Statements
This press release contains certain forward-looking statements, including without limitation statements relating to: the expected receipt of grant funding from KRHP LLC; Tevogen's plans for its research and manufacturing capabilities; expectations regarding future growth; expectations regarding the healthcare and biopharmaceutical industries; and Tevogen's development of, the potential benefits of, and patient access to its product candidates for the treatment of infectious diseases and cancer. Forward-looking statements can sometimes be identified by words such as "may," "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 under the company's control that may cause actual results, performance or achievements of the company to be materially different from the results, performance or other expectations 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 on acceptable terms or at all; changes in the markets in which Tevogen competes, including with respect to its competitive landscape, technology evolution, or regulatory changes; changes in domestic and global general economic conditions; the risk that Tevogen may not be able to execute its growth strategies or may experience difficulties in managing its growth and expanding operations; the risk that Tevogen may not be able to develop and maintain effective internal controls; the failure to achieve Tevogen's commercialization and development plans and identify and realize additional opportunities, which may be affected by, among other things, competition and the ability of Tevogen to grow and manage growth economically and hire and retain key employees; the risk that Tevogen may fail to keep pace with rapid technological developments to provide new and innovative products and services or make substantial investments in unsuccessful new products and services; risks related to the ability to develop, license or acquire new therapeutics; the risk of regulatory lawsuits or proceedings relating to Tevogen's business; uncertainties inherent in the execution, cost, and completion of preclinical studies and clinical trials; risks related to regulatory review, approval and commercial development; risks associated with intellectual property protection; Tevogen's limited operating history; and those factors discussed or incorporated by reference in Tevogen's Annual Report on Form 10-K.
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.
Contacts
Tevogen Bio Communications
T: 1 877 TEVOGEN, Ext 701
Communications@Tevogen.com
