• Tevogen Bio will receive the remaining $8 million grant, totaling $10 million, from KRHP LLC this quarter, following a positive review of its progress, particularly in Tevogen.AI.
• Efficient operations with operating expenses of $9.7 million for the first three quarters of 2024.
• The company's AI division has advanced its PredicTcell platform using expanded datasets and wet lab science to enhance predictive modeling capabilities.
  
   

WARREN, N.J., March 03, 2025 (GLOBE NEWSWIRE) -- Tevogen Bio ("Tevogen Bio Holdings Inc." or "Company") (NASDAQ:TVGN), a clinical-stage specialty immunotherapy biotech, announced in January 2025, it received $2 million on non-dilutive grant funding from KRHP LLC ("Grantor") with an additional $8 million to be contributed contingent on the Grantor's review of the Company's activities. Tevogen Bio is pleased to announce it will receive the remaining $8 million in funding from the Grantor prior to the end of the current fiscal quarter based on the Grantor's evaluation of the Company's progress, particularly in Tevogen Bio's artificial intelligence effort, Tevogen.AI. This $8 million grant, similar to the initial grant amount, is not dilutive to existing Tevogen Bio shareholders.

Since entering an agreement with Microsoft (NASDAQ:MSFT), Tevogen.AI has enhanced the PredicTcell platform by advancing a dataset of viruses and diseases, supported by wet lab science, to improve model training and development. In parallel, Tevogen.AI has been expanding its team with the goal of delivering predictive models.

Tevogen Bio continues to maintain efficient operations in its mission to develop therapies for treatment of cancers and viral infections with operating expenses of $9.7 million for the first three fiscal quarters of 2024. As a product of this efficient model, the $8 million grant will contribute meaningfully towards the Company's mission.