Healthcare research company Tevogen Bio reported on Monday the receipt of the necessary funding to support all clinical trials of its investigational, potentially curative COVID-19 treatment from HMP Partners of New Jersey, a medical investment firm.

The company said its Investigational New Drug (IND) application for its proprietary antigen-specific T cell therapy is under review by the US Food and Drug Administration (FDA).

According to the company, a patient's own T cells reportedly activates and responds to the infection, which is the mechanism that the body employs to rid itself of SARS-CoV-2. Its proprietary solution enables a single donation from a donor to generate more than a thousand doses of COVID-19 specific cytotoxic T cells.

Yale's Dr Ryan Saadi is leading the efforts and is among those who are financing the trials.

Under the guidance of the lead investigator Dr Neal Flomenberg, chair of the Department of Medical Oncology at Thomas Jefferson University, Tevogen will study its investigational treatment, TVGN-489, allogeneic T cells that have been programmed and grown in the laboratory, for its safety and capability to recognize and destroy COVID-19 infected cells in its upcoming trials.