Tevogen Bio, a clinical-stage specialty immunotherapy biotech, announced in January 2025 that it received $2 million in non-dilutive grant funding from KRHP. An additional $8 million will be contributed, contingent on KRHP’s review of the company’s activities.
And Tevogen Bio also announced it will receive the remaining $8 million in funding from KRHP prior to the end of the current fiscal quarter based on the KRHP’s evaluation of the company’s progress, especially 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, 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. And in parallel, Tevogen.AI has been expanding its team to deliver predictive models.
Tevogen Bio continues to maintain efficient operations in its goal to develop therapies for treating 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.
KEY QUOTE:
“Tevogen Bio’s disciplined business model is designed for long-term success without reliance on excessive capital raises or shareholder dilution. This additional $8 million in non-dilutive funding reinforces the efficiency and sustainability of our approach, which we believe must be the new standard in biotech.”
- Ryan Saadi, MD, MPH, Founder and CEO of Tevogen Bio
