Tengion
| Public | |
| Traded as | OTCMKTS:TNGN |
| Industry | Biotechnology |
| Founded | 2003 |
| Headquarters | Winston-Salem, North Carolina, United States |
Key people |
David I. Scheer |
Number of employees | 25 |
| Website |
www |
Tengion, Inc. (OTC Pink:TNGN), 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 patients own cells or autologous cells, in conjunction with its Organ Regeneration Platform.
History
Founded in 2003 and formerly headquartered in East Norriton, Pennsylvania before moving to Winston-Salem, North Carolina in 2012,[2] 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.[3] 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.[4][5] 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.[6]
Products
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
Its most advanced candidate is the Neo-Urinary Conduit. As of 2012, the Phase I clinical trial of the Tengion Neo-Urinary Conduit is ongoing in several health care institutions, in patients with bladder cancer who require a total cystectomy.
The company also develops the Neo-Bladder Augment, a Phase II clinical trial product for the treatment of neurogenic bladder resulting from spina bifida in pediatric patients, as well as neurogenic bladder resulting from spinal cord injury in adult patients; the Neo-Bladder Replacement to serve as a functioning bladder, eliminating the need for an ostomy bag, for patients who have their bladders removed due to cancer; and the Neo-Kidney Augment to prevent or delay dialysis by increasing renal function in patients with advanced chronic kidney disease.
Product candidates not in active development
In addition, it is involved in developing the Neo-GI Augment, a gastrointestinal development program; and Neo-Vessel Replacement, which targets various blood vessel applications consisting of vascular access grafts, arterio-venous, and shunts for patients with ESRD (end stage renal disease) undergoing hemodialysis treatment, as well as for vessel replacement for patients undergoing coronary or peripheral artery bypass procedures.
References
- ↑ Health Care Sector Wrap, FOX BUSINESS (August 14, 2012)
- ↑ Tengion completes move to Winston-Salem, Winston-Salem Journal (January 05, 2012)
- ↑ Tengion Inc., Hoover's
- ↑ Matt Evans, Tengion plans IPO around Atala’s groundbreaking work, The Business Journal (February 15, 2010)
- ↑ Anthony Atala: at the cutting edge of regenerative surgery, The Lancet (15 October 2011)
- ↑ Tengion Common Stock to Begin Trading on The OTCQB™ Tier of the OTC Marketplace on September 6, 2012, heraldonline.com (September 5, 2012)