Tevogen Bio, a clinical-stage biotechnology company, is developing cell and gene therapies. They have recently entered into a $1.2 billion SPAC deal to go public in the United States. The deal is expected to close in the second half of 2023. Tevogen will merge with Aspirational Consumer Acquisition Corp. (ACAC), a blank-check company.
Tevogen aims to develop off-the-shelf precision T cell therapeutics that are more affordable and accessible than current cell therapies. Their lead product candidate, TVGN 489, is a T cell therapy for treating acute-risk COVID-19 patients. TVGN 489 has completed a proof-of-concept clinical trial and is currently undergoing a Phase 1/2 clinical trial.
The SPAC deal will provide Tevogen with the necessary capital to advance its development programs and bring its products to market. The company plans to use the proceeds from the deal to fund clinical trials, expand manufacturing capabilities, and enhance research and development efforts.
This SPAC deal represents a significant milestone for Tevogen. It is expected to accelerate the company’s growth and support its mission of making precision T cell therapies more affordable and accessible to patients.
