Can Regenerative Medicine Firm Tengion Inc. Conjure a Medtronic, Inc. (MDT) Partnership?
5/29/2012 8:04:49 AM
Regenerative medicine company Tengion (NASDAQ:TNGN) has always planned to take its novel tissue generating technology as far as early-stage clinical studies before finding a partner to finance later-stage work. The company’s lead program treating patients who have had their bladder removed is expected to finish phase 1 enrollment by year’s end. A preclinical kidney program could start human studies next year. CEO John Miclot said his goal is to adhere to those timelines. But therein lies the problem. When Tengion released first quarter financial results, the company said it has $7.3 million in cash left — enough to last until September.