EAST NORRITON, Pa., June 30, 2011 /PRNewswire/ -- Tengion, Inc. (Nasdaq: TNGN) today announced that Steven A. Nichtberger, M.D., has resigned from his role as president, chief executive officer and member of the Company's Board of Directors. David I. Scheer, Chairman of the Board, will assume a more active role in guiding the Company while an external search is conducted for a new chief executive officer.
"I want to thank Steven for his many contributions over the last seven years in establishing Tengion as a leader in regenerative medicine and wish him success as he moves on to pursue other opportunities," said Mr. Scheer.
"I am pleased that as I leave my role at Tengion, the Company is positioned to pursue the advancement of its organ regeneration platform and I wish Tengion success in bringing its product candidates to patients in need," said Dr. Nichtberger.
Tengion reaffirmed its previously disclosed plans of submitting additional clinical data and expected modifications to the surgical approach to the FDA during the third quarter for the Neo-Urinary Conduit, the Company's lead clinical product candidate for use in bladder cancer patients requiring a urinary diversion following bladder removal (cystectomy). Tengion also reiterated its expectation of requesting a meeting with the FDA by the end of 2011 regarding the path to clinical trials for its Neo-Kidney Augment development program, which is intended to prevent or delay the need for dialysis or kidney transplant by increasing functional kidney mass in patients with advanced chronic kidney disease.
Tengion, a clinical-stage biotechnology company, has pioneered the Organ Regeneration Platform™ that enables the Company to create proprietary product candidates that are intended to harness the intrinsic regenerative pathways of the body to produce a
|SOURCE Tengion, Inc.|
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