Tengion, Inc.
Headquartered in East Norriton, PA with a research center in Wake Forest, NC, Tengion (Nasdaq: TNGN) is a clinical-stage biotechnology company that has pioneered the Organ Regeneration PlatformTM that enables the Company to create proprietary product candidates that are intended to harness the intrinsic regenerative pathways of the body to produce a range of native-like organs and tissues. Tengion's product candidates seek to eliminate the need to utilize other tissues of the body for a purpose to which they are poorly suited, procure donor organs or administer anti-rejection medications. www.tengion.com
Why Tengion? — Patients suffering from severe bladder disease often opt for radical cystectomy, bladder augmentation or removal. Bowel tissue is generally used to replace bladder tissue, although these procedures have a number of significant complications that increase patient morbidity. By incorporating a patient’s own cells into a biodegradable scaffold, the Tengion Neo-Bladder products serve as a template that, once implanted, recruit other cells to develop and regenerate the organ.
Market Opportunity — Tengion products address the shortage of donor organs, the risk of organ rejection and the high cost and toxicity of anti-rejection medications. The estimated cost of procuring an organ is between $50K to$100K. With 21,000 annual bladder reconstructions or removals in the U.S., the addressable market is more than $1B.
Awards — The Scientist Magazine’s “Best Places to Work” (2008) and the Association of University Research Parks “2008 Innovation Award of Excellence.” Tengion’s Co-Founder Steven Nichtberger, M.D. received the E&Y National Entrepreneur of the Year® Award (2008).
Safeguard Board Member — Gary J. Kurtzman, MD
Financial Summary — Safeguard has deployed $9.0 million in Tengion and presently owns approximately 2.5% of the company’s outstanding common shares. Co-investors include Bain Capital / Brookside Partners, Deerfield Partners, Healthcap Partners, J&J Development Corporation, L Capital Partners, Oak Investment Partners and Quaker BioVentures. Tengion is traded on the Nasdaq under the ticker symbol TNGN.
Initial Capital Deployment — October 2008
Sector — Life Sciences, Medical Devices
