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NEWS
Tevogen Bio Signs Letter of Intent With CD8 Technology to Build Up to a $50 Million R&D and Manufacturing Facility; No Impact on Shareholder Equity
• CD8 Technology Services, LLC ("CD8 Technology") to provide turn-key facility for Tevogen Bio
• Reinforces Tevogen Bio's commitment to preserving shareholder value
• Expected to further enhance Tevogen Bio's ambitious growth agenda
• Reinforces Tevogen Bio's commitment to preserving shareholder value
• Expected to further enhance Tevogen Bio's ambitious growth agenda
WARREN, N.J., Oct. 29, 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, took significant steps toward expanding R&D and manufacturing capabilities.
The proposed facility is intended to support both pre-clinical research and GMP manufacturing capabilities, staffed by Tevogen.
"By overcoming significant capital and time barriers of entry needed to build GMP capabilities at scale, this venture is expected to significantly expedite both research and manufacturing," said Ryan Saadi, CEO of Tevogen Bio. "This facility will be instrumental in advancing our mission to bring innovative solutions to market with speed and cost efficiency."
The proposed facility is intended to support both pre-clinical research and GMP manufacturing capabilities, staffed by Tevogen.
"By overcoming significant capital and time barriers of entry needed to build GMP capabilities at scale, this venture is expected to significantly expedite both research and manufacturing," said Ryan Saadi, CEO of Tevogen Bio. "This facility will be instrumental in advancing our mission to bring innovative solutions to market with speed and cost efficiency."
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Zzzxx : Is it good news?
Jaguar8 OP Zzzxx : Yes
Canucks : No impact on shareholder equity. Commitment to preserving shareholder value. Feeling some mad love from this company.
Jaguar8 OP Canucks : Yup
joemamaa : nice