Tengion Inc. (TNGNQ)
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Tengion Inc. Profile
| Biotechnology Industry | Healthcare Sector | David I. Scheer CEO | OTC PINK Exchange | 88034G208 CUSIP |
| US Country | 25 Employees | - Last Dividend | 14 Jun 2012 Last Split | - IPO Date |
Overview
Tengion, Inc. established itself as a pioneering force in the field of regenerative medicine, focusing on the ambitious goal of discovering, developing, manufacturing, and commercializing neo-organs or products composed of living cells. These products were designed to be implanted or injected into the body with the aim of engrafting into, regenerating, or replacing damaged tissues or organs. Founded in 2003 and based in Winston-Salem, North Carolina, the company symbolized hope for patients with conditions requiring tissue or organ replacement. However, despite its innovative vision, Tengion encountered financial hurdles that led it to file a voluntary petition for liquidation under Chapter 7 in the U.S. Bankruptcy Court for the District of Delaware on December 29, 2014. During its operational years, Tengion also entered into a significant license agreement with Children's Medical Center Corporation (CMCC) for the rights to use specific patent rights and intellectual property in tissue engineering technology.
Products and Services
- Neo-Kidney Augment
- Neo-Urinary Conduit
This product aimed at the prevention or delay of dialysis by enhancing renal function in patients suffering from advanced chronic kidney disease. By targeting the underlying functional decline of kidneys, the Neo-Kidney Augment sought to offer a groundbreaking alternative to existing kidney disease treatments, potentially improving the quality of life for patients by avoiding or pushing back the need for dialysis.
At the Phase I clinical trial stage at the time Tengion initiated its bankruptcy filing, the Neo-Urinary Conduit was developed to replace the use of bowel tissue in bladder cancer patients requiring a non-continent urinary diversion following the surgical removal of the bladder. This innovative approach aimed to reduce the complications associated with traditional methods by effectively creating a new pathway for urine to exit the body, thereby potentially improving outcomes and the quality of life for bladder cancer survivors.
