Tengion, Inc Announces $39M Series A Financing

Filed in archive Corporate and Industrial News on August 15, 2005

Tengion, Inc., a leader in the field of regenerative medicine, announced completion of a $39 million Series A financing to bring its lead product into clinical trials. The Company's plan is to develop, manufacture, and market a suite of autologous tissue-engineered organs and tissues, i.e.,developing human tissues and organs (such as bladders) derived from a patient's own cells. Potentially, this technology can solve problems associated with using donor transplants such us limited supply, tissue rejection and and the adverse effects of immunosuppression.

"Based on more than 15 years of research and an extensive intellectual property foundation licensed from the Children's hospital Boston, the pediatric teaching hospital of the Harvard Medical School and the Massachusetts Institute of Technology, Tengion is now well positioned to advance its science into the clinic," said Steven Nichtberger, MD, President and Chief Executive Officer of Tengion.

Among the A round investors are:
Oak Investment PartnersJohnson & Johnson Development Corporation
HealthCapL Capital PartnersTengion was founded by Scheer & Company, best known as the founder of Esperion Therapeutics, Inc., now a division of Pfizer, Inc.