Tengion, Inc.'s planned IPO may raise $44 million in capital that will assist the company to advance its clinical development and market introduction of products in regenerative medicine. Tengion's technology development, spear-headed by Dr. Anthony Atala, founder, who also heads the Wake Forest Institute for Regenerative Medicine, is focused on organ regeneration for urologic, renal, GI and vascular applications.
Background on Tengion's technologies:
Tengion's organ regeneration process begins when a surgeon sends the patient's biopsy to Tengion. The company’s scientists identify and multiply the patient's own healthy progenitor cells, and then place these cells on a structure that is shaped like the needed organ or tissue (a bioabsorbable scaffold). The resulting neo-organ becomes ready for implantation after a period of maturation. The surgeon then implants the neo-organ in the patient's body, where it is designed to integrate with the rest of the body and become functional. By contrast, the current therapy for urinary bladder reconstruction requires the surgeon to harvest gastrointestinal tissue from the patient. The harvest and use of gastrointestinal tissue in the urinary tract is associated with acute and chronic risks and complications. At last report, Tengion was developing products for urologic, renal, gastrointestinal and vascular therapies. (Source: MedMarket Diligence report #S520.)
Tengion has been privately funded, having raised $146 million in equity capital.
Due rapid new product introduction, the current market for organ repair, replacement and transplantation technologies is growing at a better than 50% annual rate (see link).