Tevogen CEO Contributes to Build-Out and First-Year Operations of New Headquarters

Rhea-AI Summary

Tevogen Bio Holdings (NASDAQ: TVGN) announced that CEO Ryan Saadi has made a personal contribution of $500,000 towards the build-out and first-year operating costs of the company's new corporate headquarters in Warren, New Jersey.

The new facility significantly expands Tevogen's operational capacity, more than doubling its previous footprint. It will centralize various teams including research, regulatory affairs, and the Tevogen.AI initiative. The facility features dedicated collaboration spaces for data scientists and engineers working on the company's proprietary PredicTcell™ and AdapTcell™ AI platforms.

According to CFO Kirti Desai, this investment demonstrates leadership's commitment to the company's long-term vision of developing accessible, affordable cell therapies while maintaining capital discipline.

Positive

• CEO's personal $500,000 investment demonstrates strong leadership confidence
• New headquarters more than doubles previous operational footprint
• Centralization of key functions including research, regulatory affairs, and AI initiatives
• Development of proprietary PredicTcell™ and AdapTcell™ AI platforms

Negative

• Company indicates need to raise additional capital to execute business plan
• Limited operating history acknowledged as risk factor

• Contribution highlights leadership’s understanding of the importance AI will play in drug discovery

WARREN, N.J., June 30, 2025 (GLOBE NEWSWIRE) -- Tevogen (“Tevogen Bio Holdings Inc.” or “Company”) (Nasdaq: TVGN) today announced that founder and Chief Executive Officer, Ryan Saadi, M.D., M.P.H., has personally contributed $500,000 towards the build-out and first-year operating costs of Tevogen’s new corporate headquarters in Warren, New Jersey.

“This contribution is about belief in Tevogen’s mission, in the remarkable people who bring that mission to life, and in the future we are building together,” said Dr. Saadi. “Our purpose is more than a business plan; it is a shared promise to patients, to one another, and to the society we serve. I am grateful for how far we have come and confident in the road ahead.”

As previously announced, the new facility more than doubles Tevogen’s previous footprint and centralizes cross-functional teams, including research, regulatory affairs, and the expanding Tevogen.AI initiative, under one roof. Dedicated collaboration spaces will support data scientists and engineers as they unlock the full potential of Tevogen’s proprietary PredicTcell™ and AdapTcell™ AI platforms.

“This personal investment by our CEO underscores the conviction of Tevogen’s leadership in our long-term vision of accessible, affordable cell therapies,” added Kirti Desai, Chief Financial Officer. “We expect it to enable us to scale efficiently while maintaining our commitment to capital discipline.”

Forward Looking Statements

This press release contains certain forward-looking statements, including without limitation statements relating to: Tevogen’s plans for its research and manufacturing capabilities; expectations regarding future growth; expectations regarding the healthcare and biopharmaceutical industries; and Tevogen’s development of, the potential benefits of, and patient access to its product candidates for the treatment of infectious diseases and cancer. 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; 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; 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; risks related to the ability to develop, license or acquire new therapeutics; 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.

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

FAQ

How much did Tevogen Bio's CEO contribute to the new headquarters?

Tevogen Bio's CEO Ryan Saadi personally contributed $500,000 towards the build-out and first-year operating costs of the new headquarters in Warren, New Jersey.

What is the purpose of Tevogen Bio's new headquarters expansion?

The new headquarters will centralize cross-functional teams including research, regulatory affairs, and Tevogen.AI initiative, while more than doubling the previous footprint and providing dedicated collaboration spaces.

What are Tevogen Bio's proprietary AI platforms?

Tevogen Bio has developed two proprietary AI platforms: PredicTcell™ and AdapTcell™, which are being utilized for their cell therapy development programs.

Where is Tevogen Bio's new headquarters located?

Tevogen Bio's new headquarters is located in Warren, New Jersey.

What is Tevogen Bio's main business focus?

Tevogen Bio focuses on developing accessible, affordable cell therapies for the treatment of infectious diseases and cancer.