Tevogen Bio Oncology Reports Top-Line Revenue Forecast of $1 Billion in Launch Year and Cumulative 5-Year Estimate Between $10 Billion and $14 Billion; Forecasts for Non-Oncology Therapeutic Areas to Follow

• Total eligible patients in the US exceed 2 million.
• Treatment of SARS-CoV-2 infection in solid and hematologic cancer patients under active treatment.
• Reflects business philosophy of commercial success through patient accessibility.
  

WARREN, N.J., Oct. 17, 2024 (GLOBE NEWSWIRE) -- Tevogen Bio (“Tevogen” or “Tevogen Bio Holdings Inc.”) (Nasdaq: TVGN), a clinical-stage specialty immunotherapy biotech developing off-the-shelf, genetically unmodified T cell therapeutics to treat infectious disease and cancers, today announced its top-line revenue forecast for its oncology pipeline, projecting $1 billion in revenue in its launch year and a cumulative 5-year estimate of between $10 billion and $14 billion. This forecast reflects the company’s unique, faster, and cost-efficient drug development model which has the potential to serve as a blueprint to ensure sustainable medical innovation for years to come.

"At Tevogen, we strive to turn our vision into reality ensuring our commitment translates into tangible results. Our priority is the well-being of cancer patients. With compelling evidence that SARS-CoV-2 remains a serious threat to those undergoing immunosuppressive treatments and chemotherapy, our first pivotal study with TVGN 489 is being designed specifically to help these vulnerable patients combat the infection," commented Sadiq Khan, Chief Commercial Officer.

Pipeline

• TVGN 489:
  • Treatment of SARS-CoV-2 infection in patients with B cell hematologic cancer [part of Tevogen Bio Oncology forecast]
  • Treatment of SARS-CoV-2 infection in patients with other cancers [part of Tevogen Bio Oncology forecast]
  • SARS-CoV-2 infection in patients under treatment for rheumatoid arthritis
  • SARS-CoV-2 infection in patients under treatment for and psoriatic arthritis
  • Treatment of Long COVID
• TVGN 920: Cervical cancer prevention
• TVGN 930: EBV-associated lymphomas
• TVGN 960: Mouth and throat cancer
• TVGN 601: Multiple sclerosis

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, the 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 through use of Tevogen’s ExacTcell platform; the anticipated 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 “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; the effect of the recent business combination with Semper Paratus Acquisition Corporation (the “Business Combination”) on Tevogen’s business relationships, operating results, and business generally; the outcome of any legal proceedings that may be instituted against Tevogen; 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; costs related to the Business Combination and the failure to realize anticipated benefits of the Business Combination; 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, 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; the ability to develop, license or acquire new therapeutics; 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 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 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.

Contacts

Tevogen Bio Communications
T: 1 877 TEVOGEN, Ext 701
Communications@Tevogen.com