Core Insights - Tevogen Bio has entered into an agreement with CD8 Technology Services for the development and/or acquisition of a turn-key facility to support pre-clinical research and GMP cell therapy production capabilities [1][2] - The agreement aims to accelerate development timelines, maintain operational agility, and control costs, addressing capital barriers typically faced in building GMP capabilities at scale [2][3] - The initial term of the agreement is 12 months, with automatic renewal, aligning with previously announced topline forecasts [2][6] Company Strategy - Tevogen Bio will provide primary staff and operations for the new facility, which is a significant step in expanding its infrastructure to support its pipeline of off-the-shelf, genetically unmodified CD8+ T cell therapeutics [3] - The agreement formalizes a previously announced letter of intent and is associated with Dr. Manmohan Patel, who owns more than 5% of the company's common stock [3] Future Outlook - Specific details regarding the facility, including scope of work, costs, and timelines, will be outlined in future work orders [3][6] - The agreement is expected to facilitate in-house cell therapy production capabilities, aligning with the company's long-term strategic goals [6]
Tevogen Bio Finalizes Agreement for Company's Own Cell Therapy Production Facility