** Shares of drug developer Tevogen Bio rise as much as 84.5% to an over six-month high of $2.97

** Co says its artificial intelligence effort, Tevogen AI, has partnered with Microsoft under Microsoft for Startups program

** TVGN says the partnership will provide it with access to MSFT's extensive ecosystem

** "The partnership is set to accelerate and streamline the development of Tevogen’s proprietary algorithms, significantly advancing our mission to lower the total cost of drug development, expedite drug discovery" - co

** According to McKinsey Global Institute, generative AI could generate $60 bln-$110 bln annually in economic value for pharma and medtech companies, with $18-$30 billion of that value attributed to commercial functions alone - TVGN

** Tevogen AI's chief information officer, Mittul Mehta, used to work at MSFT

** YTD, TVGN stock down 78%

(Reporting by Puyaan Singh)

((Puyaan.Singh@thomsonreuters.com;))