Tevogen Advances Generics Strategy, Signs Letter of Intent to Evaluate Potential Acquisition of Apozeal Pharmaceutical

WARREN, N.J., March 05, 2026 (GLOBE NEWSWIRE) -- Tevogen (“Tevogen Bio Holdings Inc.” or “Company”) (Nasdaq: TVGN) today announced that it has entered into a signed, non-exclusive, non-binding Letter of Intent (“LoI”) to evaluate a potential transaction with Apozeal Pharmaceutical Inc. (“Apozeal”), a pharmaceutical company focused on the development and manufacturing of high-quality, cost-effective medicines.

The proposed transaction represents a strategic step in advancing Tevogen Generics, established to support domestic pharmaceutical manufacturing and enhance affordability and national supply chain resilience.

If consummated, the potential acquisition of Apozeal could provide Tevogen with an established generics platform, including:

• 11 FDA-approved Abbreviated New Drug Application (ANDA) products for the U.S. market
• Multiple ANDAs currently filed with the U.S. Food and Drug Administration awaiting approval
• Additional generic products in development
  
  

Dr. Ryan Saadi, Founder and Chief Executive Officer of Tevogen, stated, “Tevogen Generics was launched with the objective of supporting pharmaceutical affordability and domestic manufacturing in the United States. The potential acquisition of Apozeal represents a meaningful step toward that strategy. With FDA-approved ANDA assets and a growing development pipeline, Apozeal could provide a foundation for building a revenue-generating generics business and could support Tevogen’s broader plan to expand U.S.-based pharmaceutical manufacturing.”

The proposed transaction remains subject to, among other things, completion of due diligence, negotiation and execution of definitive documentation, required approvals, and satisfaction of customary closing conditions.

Tevogen is also actively considering other transactions with a focus on life sciences-related businesses; however, there can be no assurance that any such transaction will be consummated.

About Tevogen

Tevogen is a socially integrated healthcare enterprise built on the principles of affordability, efficiency, and scientific rigor. The company leverages artificial intelligence and precision T cell therapy platforms, a patient-first and cost-disciplined operating model, and engagements with global technology leaders to support the development of advanced, life-saving therapies across multiple therapeutic areas and scalable solutions for the broader healthcare system.

Tevogen Bio, the company’s lead initiative, has completed a proof-of-concept clinical trial demonstrating the potential of its single-HLA-restricted, genetically unmodified allogeneic T cells. Tevogen Bio’s pipeline spans virology, oncology, and neurology, with programs built on the company’s proprietary ExacTcell™ platform.

Tevogen.AI is designed to transform drug development by accelerating target detection, helping reduce failure rates, and supporting optimized clinical trial design through proprietary predictive technologies. The platform utilizes cloud and data services from leading technology providers, including Microsoft and Databricks, to advance its long-term ambition to predict the proteome for any given protein–HLA combination, enabling rapid and cost-efficient therapeutic discovery.

Tevogen is exploring future strategic initiatives that may include domestic generics, biosimilars, medical devices, and innovative insurance solutions for healthcare providers. Together, these programs reflect Tevogen’s mission to advance sustainable innovation and broaden patient access through a faster, more efficient, and more equitable healthcare model.

Forward Looking Statements

This press release contains certain forward-looking statements, including without limitation statements relating to: the potential transaction with Apozeal and the potential benefits of the transaction; 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.