Tevogen Bio's CEO and founder, Dr. Saadi, MD, MPH, has expressed his gratitude for the public support of the company's business model, which focuses on patient accessibility. This announcement comes amid updates on the company's pipeline and financial forecasts, including a $1 billion oncology forecast for the launch year.
Commitment to Accessibility
Dr. Saadi emphasized his commitment to bringing accessible therapeutics to market, highlighting the leadership team's retention of 100% of their equity. This decision reflects their confidence in the company's potential. "The leadership team’s retention of 100% of their equity reflects their confidence in the company’s potential," said Dr. Saadi.
Shareholder Confidence
As of June 30, 2024, officers of Tevogen Bio held nearly 79% of the company’s outstanding shares. According to Tevogen, any reported sales by officers were solely to satisfy tax obligations related to the vesting of restricted stock units and were not made at the discretion of the reporting officer.
ExacTcell™ Technology
Tevogen Bio is a clinical-stage specialty immunotherapy company developing off-the-shelf, genetically unmodified T cell therapeutics. The company's proprietary ExacTcell™ technology is designed to create accessible and disease-specific cellular immunotherapies. Tevogen Bio has been granted three U.S. patents, with nine additional patents pending, including two for Artificial Intelligence, and has filed 12 international applications. The company has also reported positive proof-of-concept clinical trial data for the first clinical product of its proprietary technology.
Pipeline and Future Expectations
Tevogen Bio is focused on addressing the unmet needs of large patient populations through precision T cell therapies for infectious diseases, cancers, and neurological disorders. The company anticipates sharing further details about its progress in the coming days, including updates on its pipeline and financial forecasts.
