Tevogen Bio Signs Letter Of Intent To Explore Acquisition Of Apozeal To Expand U.S. Generics Manufacturing

Tevogen Bio Holdings Inc. announced today that it has signed a non-exclusive, non-binding Letter of Intent (LoI) to explore a potential transaction with Apozeal Pharmaceutical Inc., a company focused on the development and manufacturing of high-quality, cost-effective medicines. The potential transaction is part of Tevogen’s strategic plan to advance Tevogen Generics, a business unit established to support domestic pharmaceutical manufacturing, improve affordability, and strengthen the resilience of the U.S. supply chain. 

If completed, the acquisition of Apozeal could provide Tevogen with a well-established generics platform. This platform includes 11 FDA-approved Abbreviated New Drug Application (ANDA) products for the U.S. market, multiple ANDAs currently pending FDA approval, and additional generic products under development.

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

The proposed transaction remains subject to customary closing conditions, including the completion of due diligence, negotiation and execution of definitive agreements, and obtaining required approvals. Tevogen is also evaluating other potential transactions with a focus on life sciences-related businesses; however, there is no guarantee that any such transaction will be completed.