Medtronic, Inc. Eyes Regenerative Medicine Market with Tengion Inc. Investment

Mass Device -- Medtronic Inc. (NYSE:MDT) is hot on technology that could coax the body into producing its own replacement kidney. The Fridley, Minn.-based medical device maker revealed its 17 percent stake and a right of first refusal to purchase technology made by (NSDQ:Tengion Inc.) in regulatory filings April 13. The East Norriton, Pa.-based company is developing a pipeline of cell- and tissue-based regenerative medicine treatments. Tengion first went public almost exactly a year ago, but its stock failed to gain traction until early this year, forcing it to seek more backing — hence the Medtronic deal.