The Pennsylvania-based Tengion, a regenerative medicine firm with a research office, a development laboratory and a pilot manufacturing facility in Winston-Salem, has closed a $33 million Series C financing.
Proceeds from this financing will be used to advance the late-stage clinical development of the Tengion Neo-Bladder Augment, undergoing evaluation in two Phase 2 trials.
The money will also accelerate expansion of Tengion's regenerative medicine platform into the development of other autologous organs and tissues in the genitourinary and cardiovascular systems.
"We will continue to advance the Phase 2 Neo-Bladder Augment clinical programs in pediatric patients with neurogenic bladder due to spina bifida and in adult patients with spinal cord injury," said Dr. Steven Nichtberger, company president and chief executive officer.