Warren, New Jersey, October 8th ( GLOBE NEWSWIRE ) – Tevogen Inc. (“ Tevogen ” or “the Company”) (Nasdaq: TVGN ) announced today that it has signed a non-exclusive, non-binding letter of intent ( Letter of Intent, referred to as LoI ), to evaluate potential transactions with HRK Healthcare LLC (“ HRK ”). Tevogen is a comprehensive healthcare enterprise that combines biopharmaceuticals, artificial intelligence, and medical services, aiming to improve the affordability and accessibility of life-saving drugs.

If the transaction is ultimately completed, the proposed deal may expand the medical infrastructure capabilities of Tevogen and support the company's evolution into a revenue-generating healthcare enterprise. This enterprise will consist of Tevogen Bio (its biopharmaceutical business), Tevogen.AI (its technology business), and a healthcare services business that may include management services upon the completion of the proposed transaction.

The main investor of Tevogen, Dr. Manmohan Patel in medicine, stated: "I am satisfied with the continuous progress Tevogen has made in building a comprehensive healthcare enterprise. The potential HRK transaction represents an opportunity to expand the company's medical services capabilities and advance its mission to make life-saving drugs more affordable and accessible. If the transaction is completed, along with other strategic acquisitions, it may pave the way for Tevogen to achieve approximately $100 million in consolidated annual revenue."

The proposed transaction is still subject to a number of conditions, including the completion of due diligence, the negotiation and signing of final documents, required approvals, and meeting the usual delivery conditions.

Tevogen is still actively considering other transactions, with a focus on life sciences and healthcare-related businesses; however, there is no guarantee that any such transactions will be completed.

About Tevogen

Tevogen is a healthcare company dedicated to improving the affordability and accessibility of life-saving medications. The company integrates three complementary businesses: Tevogen Bio (its biotechnology projects), Tevogen.AI (its artificial intelligence and technology projects), and Tevogen Healthcare Services (its emerging medical services projects).

These initiatives are collectively aimed at creating a more integrated healthcare model that leverages the synergies of science, technology, and operational efficiency in order to reduce drug costs and expand access for patients.

Forward-looking Statements

This press release contains certain forward-looking statements, including but not limited to: statements regarding potential transactions and their potential benefits; Tevogen's plans regarding its research and development and manufacturing capabilities; expectations for future growth; expectations regarding the healthcare and biopharmaceutical industries; as well as Tevogen's statements regarding the development, potential benefits, and patient accessibility of its candidate products for the treatment of infectious diseases and cancer. Forward-looking statements may be identified by words such as "may", "could", "will", "expected", "estimated", "potentially", "target", "opportunity", "anticipated", "believe", "future", and their opposites or similar expressions. These statements are based on management's expectations, assumptions, estimates, projections, and judgments as of the date of this press release and are subject to various known and unknown risks, delays, uncertainties, and other factors beyond the company's control, which could result in significant differences between the actual results, performance, or achievements of the company and those indicated or implied by these forward-looking statements.

Factors that may cause actual results, performance, or achievements to differ from those expressed or implied in the forward-looking statements include, but are not limited to: inherent risks associated with due diligence and negotiations regarding the proposed transaction; the risk that the transaction may not be completed on favorable terms or may not be completed at all; the risk that the expected benefits from the transaction may not be realized in a timely manner or may not be realized at all; changes in the market in which Tevogen operates, including competitive landscape, technological evolution, or regulatory changes; changes in the domestic and global economic conditions; the risk that Tevogen may not be able to implement its growth strategy or may encounter difficulties in managing growth and expanding operations; the risk that Tevogen may not be able to establish and maintain effective internal controls; the risk of failing to realize the company's commercialization and development plans and of failing to identify and seize additional opportunities, which may be affected by factors such as competition, the company's ability to grow economically and manage growth, as well as the ability to recruit and retain key employees; the risk that Tevogen may not be able to keep up with rapid technological developments, provide new innovative products and services, or may invest substantial funds in failed new products and services; the risk of needing to raise additional capital to fully implement its business plan; risks related to the ability to develop, license, or acquire new therapies; regulatory litigation or proceedings related to the Tevogen business; inherent uncertainties in the execution, costs, and completion of preclinical research and clinical trials; risks related to regulatory review, approval, and commercialization development; risks related to intellectual property protection; the limited operating history of Tevogen; and other factors discussed or incorporated by reference in the most recent 10-K annual report submitted to the U.S. Securities and Exchange Commission (SEC).

You should not rely excessively on forward-looking statements, which are only valid as of the date they are made. Except as required by applicable law, Tevogen assumes no obligation to update any such forward-looking statements.

Contact Information

Tevogen Bio Communications