Hogan Lovells guides Tevogen Bio in combination with Semper Paratus Acquisition Corporation

Press releases | 18 July 2023

Baltimore, 18 July 2023 – A team from global law firm Hogan Lovells has guided privately held immunotherapy biotech company Tevogen Bio Inc (“Tevogen”) in a combination with publicly traded special purpose acquisition company Semper Paratus Acquisition Corporation (Nasdaq: LGST). The transaction will result in Tevogen becoming publicly listed.

Tevogen is a clinical -stage specialty immunotherapy biotech pioneer developing off-the-shelf, genetically unmodified T cell therapeutics in virology, oncology, and neurology. Upon completion of the transaction, Tevogen will be pursuing several late-stage clinical trials, expanding manufacturing capacity, and expediting the development of products targeting life-threatening viral infections, several viral-induced and non-viral-induced common cancers, and multiple sclerosis.

The companies anticipate that the pro forma equity value of the combined company is expected to be approximately US$1.2 billion, and the proposed business combination is expected to be completed in the fourth quarter of 2023.

The Hogan Lovells team was led by Corporate & Finance partners William Intner (Baltimore) and Richard Aftanas (New York) with support from counsel Nick Hoover (Baltimore) and associates Rob Cortinas (New York) and Max Cardin (Baltimore), and other key relationship partners, including health care regulatory partner Beth Roberts (Washington, D.C.) and intellectual property partner Kristin Connarn (Boston).

More details on the transaction can be found here.