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Tengion Announces Relocation of Corporate Headquarters to Current Facility in Winston-Salem, North Carolina
Date:1/5/2012

WINSTON-SALEM, N.C., Jan. 5, 2012 /PRNewswire/ -- Tengion, Inc. (NASDAQ: TNGN), a leader in regenerative medicine, today announced it has completed the relocation of its corporate headquarters from East Norriton, Pennsylvania to the Company's existing facility in Winston-Salem, North Carolina.  The relocation is part of the Company's previously announced restructuring, which was designed to fund the Company's lead development programs through key milestones in 2012 while reducing anticipated cash utilization.  The Company will continue to maintain its Pennsylvania facility while it explores options to significantly reduce the net rental obligation for the facility.

"We are excited to move our corporate headquarters to Winston-Salem after having much of our research and development operations located here since 2004," said John L. Miclot, President and Chief Executive Officer. "This relocation allows us to focus our resources more efficiently on advancing our Neo-Urinary Conduit™ and Neo-Kidney Augment™ programs.  The presence of a well-educated, high-quality workforce was also a factor in the decision to move our headquarters to Winston-Salem."

"We are delighted to welcome Tengion to our North Carolina family of life sciences companies," said Norris Tolson, President and CEO of the North Carolina Biotechnology Center. "We are really pleased to hear that this leader in regenerative medicine is making North Carolina its home."

Tengion is continuing to advance its ongoing Phase 1 clinical trial of the Neo-Urinary Conduit, which is being evaluated in bladder cancer patients requiring a urinary diversion following bladder removal (cystectomy). This trial is designed to assess the safety and preliminary efficacy of the Neo-Urinary Conduit in up to 10 patients, as well as to allow the clinical investigators to optimize the surgical proce
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