Tevogen Bio (TVGN) said Thursday it has agreed with CD 8 Technology Services to develop or acquire a facility for pre-clinical research and cell therapy production. Financial details were not disclosed.
The new facility will support both research and GMP cell therapy manufacturing, with Tevogen Bio providing the main staff and operations, the company said.
CD8 is associated with Manmohan Patel, who beneficially owns more than 5% of the company's common stock.
Tevogen Bio expects the agreement to help it avoid high upfront costs usually needed to build GMP facilities at scale, it added.
The agreement will last for 12 months at first and will automatically renew, matching the company's earlier financial forecasts, according to the company.
Shares of the company were down about 4.9% in recent trading.
Price: 0.97, Change: -0.05, Percent Change: -4.80
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。