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Tengion

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Tengion, Inc.
Company typePublic
Expert Market: TNGNQ
IndustryBiotechnology
Founded2003
Headquarters
Winston-Salem, North Carolina
,
United States
Key people
David I. Scheer (Chairman)
John L. Miclot (Chief Executive Officer)
Number of employees
25
Websitewww.tengion.com [dead link]

Tengion, Inc. is an American development-stage regenerative medicine company founded in 2003 with financing from J&J Development Corporation, HealthCap and Oak Investment Partners, which is headquartered in Winston-Salem, North Carolina.[1] Its goals are discovering, developing, manufacturing and commercializing a range of replacement organs and tissues, or neo-organs and neo-tissues, to address unmet medical needs in urologic, renal, gastrointestinal, and vascular diseases and disorders. The company creates these human neo-organs from a patient’s own cells or autologous cells, in conjunction with its Organ Regeneration Platform.

Tengion declared Chapter 7 bankruptcy in December 2014, and liquidated its assets.[2] In March 2015 its assets, including tissue engineering samples, were bought back by its creditors and former executives in March 2015. The purchase was expedited.[3] The new owners then formed Winston-Salem based RegenMedTX.[4]

History

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Founded in 2003 and formerly headquartered in East Norriton Township, Pennsylvania before moving to Winston-Salem, North Carolina in 2012,[5] Tengion went public in 2010, after its stock has been approved for listing on the NASDAQ, through a $26 million IPO to help advance its research and development activities.[6] Some of the groundbreaking regenerative medicine technologies of Dr. Anthony Atala, director of the Wake Forest Institute for Regenerative Medicine, were the core from where those research and development activities developed.[7][8]

On September 4, 2012, Tengion received a notice from NASDAQ stating that the company had not regained compliance with NASDAQ Listing Rule 5550(b)(1) and that its common stock would cease trading on the NASDAQ Capital Market effective on September 6, 2012, and would begin trading on the OTCQB tier of the OTC Marketplace.[9] The company was bought by former executives and creditors after declaring bankruptcy in 2014.[3]

Products

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All current Tengion's regenerative medicine product candidates are investigational and will not be commercially available until the completion of clinical trials and the review and approval of associated marketing applications by the Food and Drug Administration.

Product candidates in clinical development

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Its most advanced candidate is the Neo-Urinary Conduit. A Phase I clinical trial of the Tengion Neo-Urinary Conduit was completed in some health care institutions, in patients with bladder cancer who require a total cystectomy. The trial ended in December 2014, however information on the results has not yet been made publicly available.[10]

References

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  1. ^ Health Care Sector Wrap Archived 2012-08-18 at the Wayback Machine, FOX BUSINESS (August 14, 2012)
  2. ^ "Bankrupt Tengion to Liquidate Assets". Genetic Engineering & Biotechnology News. Mary Ann Liebert, Inc. 31 December 2014. Retrieved 16 October 2024.
  3. ^ a b Craver, Richard (March 6, 2015). "Bankruptcy Court approves offer to buy Tengion". Winston-Salem Journal. Retrieved June 3, 2024.
  4. ^ Perriello, Brad (6 August 2015). "Tengion successor RegenMedTX raises $4m". Mass Device. Retrieved 16 October 2024.
  5. ^ Tengion completes move to Winston-Salem Archived 2012-01-20 at the Wayback Machine, Winston-Salem Journal (January 05, 2012)
  6. ^ Tengion Inc., Hoover's
  7. ^ Matt Evans, Tengion plans IPO around Atala’s groundbreaking work, The Business Journal (February 15, 2010)
  8. ^ Anthony Atala: at the cutting edge of regenerative surgery, The Lancet (15 October 2011)
  9. ^ Tengion Common Stock to Begin Trading on The OTCQB™ Tier of the OTC Marketplace on September 6, 2012[permanent dead link], heraldonline.com (September 5, 2012)
  10. ^ Tengion. Incontinent Urinary Diversion Using an Autologous Neo-Urinary Conduit. In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000- [cited 2016 April 10th]. Available from: https://clinicaltrials.gov/ct2/show/NCT01087697 NLM Identifier: NCT01087697.
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