RegenMedTX
| Company type | Public |
|---|---|
| Template:OTC Expert | |
| Industry | Biotechnology |
| Founded | 2003 |
| Headquarters | , |
Key people | David I. Scheer (Chairman) John L. Miclot (Chief Executive Officer) |
Number of employees | 25 |
| Website | www |
Tengion, Inc. is a regenerative medicine enterprise in the United States established in 2003, with initial funding from J&J Development Corporation, HealthCap, and Oak Investment Partners. The company's headquarters are situated in Winston-Salem, North Carolina. Tengion specializes in the innovation, production, and commercialization of replacement tissues and organs—referred to as neo-organs and neo-tissues—aimed at meeting unmet medical requirements in urologic, renal, gastrointestinal, and vascular conditions. These human-derived neo-organs are generated utilizing the patient’s own cells through the Organ Regeneration Platform.
In December 2014, Tengion filed for Chapter 7 bankruptcy and proceeded with asset liquidation. Subsequently, in March 2015, a group comprising creditors and former company leaders reacquired its assets, including tissue engineering materials, facilitating a swift transaction. This acquisition led to the formation of RegenMedTX, based in Winston-Salem.
History
Tengion was founded in 2003 with its original base in East Norriton Township, Pennsylvania before relocating to Winston-Salem, North Carolina in 2012. The firm entered the public market in 2010 by raising $26 million through an IPO on the NASDAQ to fund research and development initiatives. Its technological foundation stems from the research conducted by Dr. Anthony Atala, director of the Wake Forest Institute for Regenerative Medicine.
On September 4, 2012, NASDAQ notified Tengion of its failure to regain compliance with Listing Rule 5550(b)(1), resulting in delisting from the NASDAQ Capital Market effective September 6, 2012. Thereafter, its shares traded on the OTCQB tier managed by the OTC Markets Group. After declaring bankruptcy in 2014, former executives along with creditors purchased the company’s assets.
Products
None of Tengion's regenerative medicine candidates have received commercial approval; all remain under clinical investigation pending successful trials and regulatory clearance from the FDA.
Product candidates in clinical development
The leading candidate product is the Neo-Urinary Conduit. By 2014, a Phase I clinical study was completed involving patients undergoing total cystectomy due to bladder cancer; however, results from this trial have not been disclosed publicly.