Tevogen Advances Generics Strategy with Potential Acquisition of Apozeal Pharmaceutical

Warren, N.J. – March 5, 2026 – Tevogen Bio Holdings Inc. (Nasdaq: TVGN) announced today that it has signed a non-exclusive, non-binding Letter of Intent (LoI) to evaluate a potential acquisition of Apozeal Pharmaceutical Inc., a company focused on developing and manufacturing affordable medicines. This move represents a strategic step in advancing Tevogen Generics, the company’s initiative to bolster domestic pharmaceutical manufacturing and improve supply chain resilience.

Expanding Generics Portfolio

If the acquisition is completed, Tevogen could gain access to an established generics platform, including:

• 11 FDA-approved Abbreviated Recent Drug Application (ANDA) products for the U.S. Market
• Multiple ANDAs currently filed with the U.S. Food and Drug Administration awaiting approval
• Additional generic products in development

Tevogen’s Commitment to Domestic Manufacturing

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

Recent Developments and Strategic Initiatives

This potential acquisition follows Tevogen’s announcement in April 2025 of Tevogen Generics, an effort aligned with the national focus on pharmaceutical affordability [1]. Last month, Tevogen also signed a letter of intent to evaluate a deal with a global contract research organization [1].

Stock Market Reaction and Corporate Actions

Shares of Tevogen (TVGN) experienced volatility following the announcement. The stock closed 17% lower on Thursday, March 5, 2026, but edged up 6% in after-hours trading [3]. The company’s Board also approved a reverse stock split of its common stock at a ratio of 50 for 1 to regain compliance with Nasdaq’s $1 minimum bid price requirement, effective March 6, 2026 [3].

Tevogen’s Broader Pipeline

Tevogen Bio’s pipeline extends beyond generics, encompassing programs in virology, oncology, and neurology, all built on the company’s proprietary ExacTcell™ platform [1]. Tevogen.AI is also being utilized to accelerate drug development and optimize clinical trial design [1].

The proposed transaction remains subject to due diligence, negotiation, required approvals, and customary closing conditions. There is no guarantee that the acquisition will be completed.