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Tengion Provides Business Update and Reports Second Quarter 2013 Financial Results
Date:8/14/2013

WINSTON-SALEM, N.C., Aug. 14, 2013 /PRNewswire/ -- Tengion, Inc. (OTCQB: TNGN), a leader in regenerative medicine, today provided a business update and reported its financial results for the second quarter ended June 30, 2013.

"We made strong progress advancing our Neo-Kidney Augment into the clinic this quarter and will continue to focus on this program as well as completing enrollment in our Neo-Urinary Conduit trial. During the quarter, we received a $15.0 million strategic investment from Celgene and completed a $18.6 million financing with other experienced investors to fund our efforts to accomplish these goals," commented John L. Miclot, President and Chief Executive Officer of Tengion. "Following the April approval by the Swedish Medical Products Agency for the Neo-Kidney Augment Phase 1 trial, we began activities to enroll patients with chronic kidney disease. We also continue to actively recruit patients in the Neo-Urinary Conduit Phase 1 trial to further advance that program toward completed enrollment."

Neo-Urinary Conduit Clinical Program Update
Tengion's most advanced product candidate is the Neo-Urinary Conduit, which is designed to replace the standard of care for bladder cancer patients undergoing cystectomy (removal of bladder). The Neo-Urinary Conduit is intended to eliminate the need for bowel resection and the occurrence of typical post-operative co-morbidities associated with current standard of care including urine absorption-related metabolic disorders. It also offers patients potential improvements over the standard of care, including a shorter and less complex surgical procedure, improved recovery times and faster hospital discharges.

Tengion has implanted seven patients with the Neo-Urinary Conduit and is actively seeking to enroll three additional patients by the end of 2013. The trial is designed to translate the surgical procedure successfully used in preclinical animal models into clinical trials with hu
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