Tevogen (TVGN) Bio announces it has entered into a definitive agreement for up to $50M in financing. This formalizes the binding term sheet previously announced May 10, 2024, the company noted. The financing consists of a combination of a $36M line of credit and a $14M contingent private placement. “We are excited to finalize this agreement with a financing partner who shares our vison and are ready to deploy the funding as pragmatically as possible. We believe this financing together with our business model of efficient operations and innovative thinking will allow us to meaningfully expand our R&D efforts and investments in Tevogen AI. I’m pleased we are taking this significant step to help patients by providing affordable and accessible personalized T cell therapies for large patient populations,” said Dr. Ryan Saadi, Tevogen Bio Founder and CEO.
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