Tevogen Bio Merging with Semper Paratus Acquisition in $1.2B Deal

 Tevogen Bio and Semper Paratus Acquisition today announced a merger agreement at a pro forma equity value of approximately $1.2 billion. The is a clinical-stage specialty immunotherapy company developing off-the-shelf, genetically unmodified T cell therapeutics in virology, oncology, and neurology.

If approved, upon closing Tevogen Bio Holdings stock is expected to list on the under the new ticker symbol TVGN.

The transaction includes a contingent earnout in the form of additional equity in Tevogen Holdings payable to the Tevogen Bio stockholders and Semper Paratus' sponsor. The deal is expected to be completed in the fourth quarter.

Sempter Paratus raised $345 million in a November 2021 IPO. The SPAC last month sold its sponsor equity to SSVK Associates.

Tevogen Bio's lead product is TVGN 489, an allogeneic, genetically unmodified T cell therapy for the treatment of -19 in highly vulnerable patient populations, such as the immune-compromised, elderly, and infirm, along with potential applications in Long COVID treatment and prevention. Read more.

Source: Tevogen Bio Merging with Semper Paratus Acquisition in .2B Deal