WARREN, N.J., April 17, 2025 (GLOBE NEWSWIRE) -- Tevogen Bio, known officially as Tevogen Bio Holdings Inc. and publicly traded under Nasdaq: TVGN, has officially announced a pivotal agreement with CD8 Technology Services LLC (CD8). This partnership is set to foster the development and potential acquisition of a state-of-the-art, turn-key facility aimed at bolstering both in-house pre-clinical research and Good Manufacturing Practice (GMP) cell therapy production capabilities.

The new facility will be integral to Tevogen Bio's long-term strategy, which seeks to streamline development timelines, enhance operational efficiency, and keep costs under control. Tevogen Bio's leadership believes that this agreement will significantly reduce the capital barriers typically associated with establishing GMP capabilities at a substantial scale. With an initial term of 12 months, this agreement is designed to renew automatically, aligning seamlessly with Tevogen Bio's previously announced financial forecasts.

This milestone signifies a remarkable advancement in Tevogen Bios infrastructure expansion, which is crucial to the advancement of our pipeline that focuses on off-the-shelf, genetically unmodified CD8+ T cell therapeutics, commented Ryan Saadi, MD, MPH, the Founder and CEO of Tevogen Bio. He emphasized the firms commitment to not only advancing healthcare solutions but also to recognizing and rewarding its loyal, long-term shareholders.

CD8 Technology Services is associated with Dr. Manmohan Patel, who is a significant shareholder, owning more than 5% of the Companys common stock. The agreement formalizes a previously outlined letter of intent, providing a framework for future collaboration. The specifics regarding the facility's capabilities, including the scope of work, financial implications, and timelines, will be detailed in subsequent work orders as the partnership progresses.

It is noteworthy that this press release includes forward-looking statements. These statements may touch on various aspects of Tevogens future plans concerning research and manufacturing, the anticipated ability to build GMP capabilities, and the prospective benefits stemming from the collaboration with CD8. Tevogen's ability to achieve its strategic goals, including revenue expectations, hinges on numerous factors that present both risks and uncertainties.

Potential challenges that could affect Tevogens trajectory include the necessity for additional capital, fluctuations in market conditions, competitive pressures, and regulatory hurdles. Moreover, the company acknowledges the importance of effective internal controls and the ability to adapt to rapid technological advancements. As they navigate these complexities, Tevogen is committed to executing its growth strategies and maximizing its opportunities in the biopharmaceutical sector.

As a closing note, it is essential for stakeholders and potential investors to exercise caution regarding these forward-looking statements, which are based on managements expectations and subject to change without notice. Tevogen has no obligation to update these statements unless mandated by law.