Tevogen Inc. ("Tevogen" or the "Company") (NASDAQ:TVGN), an integrated healthcare enterprise combining biopharma, artificial intelligence, and healthcare services to improve the affordability and accessibility of life-saving medicines, today announced that it has entered into a signed, non-exclusive, non-binding Letter of Intent ("LoI") to evaluate a potential transaction with HRK Healthcare LLC ("HRK").

If consummated, the proposed transaction could expand Tevogen’s healthcare infrastructure capabilities and support the Company’s evolution into a revenue-generating healthcare enterprise comprised of Tevogen Bio, its biopharma arm; Tevogen.AI, its technology arm; and, subject to completion of proposed transactions, a healthcare services arm that may include management services.

"I am pleased with Tevogen’s continued progress toward building an integrated healthcare enterprise," said Dr. Manmohan Patel, MD, Tevogen’s lead investor. "The potential HRK transaction represents an opportunity to expand the Company’s healthcare services capabilities and advance its mission of improving the affordability and accessibility of life-saving medicines. If consummated, this opportunity, together with other strategic acquisition initiatives, could potentially pave Tevogen’s path to realizing approximately $100 million in combined annual revenue."

The proposed transaction remains subject to, among other things, completion of due diligence, negotiation and execution of definitive documentation, required approvals, and satisfaction of customary closing conditions.

Tevogen is also actively considering other transactions with a focus on life sciences and healthcare-related businesses; however, there can be no assurance that any such transaction will be consummated.