Tevogen Bio soars on AI partnership with Microsoft
** Shares of drug developer Tevogen Bio TVGN.O rise as much as 84.5% to an over six-month high of $2.97
** Co says its artificial intelligence effort, Tevogen AI, has partnered with Microsoft MSFT.O under Microsoft for Startups program
** TVGN says the partnership will provide it with access to MSFT's extensive ecosystem
** "The partnership is set to accelerate and streamline the development of Tevogen’s proprietary algorithms, significantly advancing our mission to lower the total cost of drug development, expedite drug discovery" - co
** According to McKinsey Global Institute, generative AI could generate $60 bln-$110 bln annually in economic value for pharma and medtech companies, with $18-$30 billion of that value attributed to commercial functions alone - TVGN
** Tevogen AI's chief information officer, Mittul Mehta, used to work at MSFT
** YTD, TVGN stock down 78%
Reporting by Puyaan Singh
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