Tevogen Bio to Receive $8 Million of Non-Dilutive Grant Funding, Reiterates Efficient Operations

Core Insights - Tevogen Bio has secured a total of $10 million in non-dilutive grant funding from KRHP LLC, with $2 million already received and an additional $8 million contingent on the Grantor's review of the Company's progress, particularly in its artificial intelligence initiative, Tevogen.AI [1][8] Funding and Financials - The $8 million grant is non-dilutive, meaning it will not affect existing shareholders [1][4] - Tevogen Bio reported operating expenses of $9.7 million for the first three fiscal quarters of 2024, indicating efficient operations [3][8] Technological Advancements - Tevogen.AI has improved the PredicTcell platform by utilizing an expanded dataset of viruses and diseases, supported by wet lab science, to enhance predictive modeling capabilities [2][8] - The Company is expanding its team to further develop predictive models [2] Business Model and Strategy - Tevogen Bio's business model emphasizes long-term success without excessive capital raises or shareholder dilution, aiming for sustainability in the biotech sector [4][5] - The leadership believes that accessible personalized therapeutics represent the next frontier of medicine, necessitating innovative business models to sustain medical innovation [6][5]