Tengion Inc. raises $74.3 million to back its Neo-Kidney Augment and Neo-Urinary Conduit clinical programs.
Tengion (NSDQ:TNGN) said it raised $74.3 million from 22 unnamed investors as it puts a pair of clinical programs through their paces.
The Winston-Salem, N.C.-based medical device company is developing the Neo-Kidney Augment and Neo-Urinary Conduit, human organs that are grown using a bioabsorbable scaffold and patients’ own cells.
Last month Tengion shares soared after the company announced a $33.6 million round, including a $15 million contribution from Celgene Corp. (NSDQ:CELG) that came with the right of 1st refusal on Tengion’s Neo-Kidney program.
