EAST NORRITON, Pa., Nov. 17 /PRNewswire/ -- Tengion, Inc., a clinical stage biotechnology company focused on the development of neo-organs and neo-tissues, today announced that its Co-founder, President and Chief Executive Officer, Steven Nichtberger, M.D., has received the prestigious Ernst & Young national Entrepreneur Of The Year(R) award in the Emerging Company category. The winners were selected by an independent judging panel made up of national business, academic and community leaders and were revealed at a gala hosted by Jay Leno in Palm Springs, California on Saturday, November 15, 2008.
To be eligible for the national award, entrepreneurs had to receive regional honors earlier this year. In June 2008, Dr. Nichtberger was named the Ernst & Young Greater Philadelphia Entrepreneur Of The Year(R) in the Life Sciences category.
The Ernst & Young Entrepreneur Of The Year(R) Awards program recognizes the leaders and visionaries who are creating and building world-class businesses. Awards are given to entrepreneurs who have demonstrated excellence and extraordinary success in such areas as innovation, financial performance, and personal commitment to their businesses and communities.
"It is a great honor to receive this award and to be recognized by my peers on a national level. I accept this award on behalf of all of Tengion's dedicated scientists and employees, who have achieved remarkable successes in the past 5 years and who have built a strong foundation for future achievements," said Dr. Nichtberger. "Tengion's Board of Directors and investors also deserve special recognition for their commitment to scientific innovation and an unwavering standard for business excellence."
Tengion's Chairman, David Scheer said, "On behalf of the Board of Directors, we are proud that Steven's leadership, vision, and execution have been recognized through such a prestigious national award. Steven's visionary approach to building a world class regenerative medicine company has provided Tengion with the opportunity to transform the lives of patients in need of an organ augmentation or replacement."
In addition to serving as the company's President and CEO, Dr. Nichtberger is the co-founder of Tengion. Prior to co-founding Tengion, Dr. Nichtberger was a member of the senior management team at Merck, where he held a variety of positions including: leadership of the global marketing organization with responsibility for developing marketing strategy for all Merck brands globally; operational leadership with P&L responsibility for a $3.5 billion US product portfolio; and, leadership of the New Product Planning function. He also played an integral role in several corporate licensing, divestiture, and product acquisition deals. Previously, Dr. Nichtberger founded and developed a profitable, privately-held company that licenses intellectual property in the field of internet-based paperless couponing. He holds a B.A. in Biology from the University of Pennsylvania, a B.S. in Economics from the Wharton School, and an M.D. from the School of Medicine and Biosciences, SUNY at Buffalo. He is currently on the board of overseers of the University of Pennsylvania School of Arts and Sciences, the board of directors of Pennsylvania Bio and BioAdvance, the external advisory board of the Center for Bioethics at the University of Pennsylvania and the board of the Montgomery County Association for Retarded Citizens.
Dr. Nichtberger added in his acceptance remarks, "This honor is only possible because of the extraordinary employees of Tengion and their passion and commitment to our vision for transforming the lives of patients in need of an organ augmentation or replacement. I look forward to continuing the pioneering work at Tengion and realizing the promise of great science."
About the Ernst & Young Entrepreneur Of The Year Awards
Now in its 22nd year, the Ernst & Young's Entrepreneur Of The Year(R) is the world's most prestigious business award for entrepreneurs. The award makes a difference through the unique way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Ernst & Young Entrepreneur Of The Year(R) celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 135 cities in 50 countries.
About Tengion
Tengion, a clinical stage biotechnology company, focuses on developing, manufacturing and commercializing human neo-organs and neo-tissues using our Autologous Organ Regeneration Platform(TM). Tengion uses biocompatible materials and a patient's own (autologous) cells to create neo-organs or neo-tissues that are designed to catalyze the body's innate ability to regenerate. Tengion's product candidates may ultimately address the most critical problems facing organ and tissue failure patients, enabling people to lead healthier lives without donor transplants or the side effects of related therapies.
CONTACT: Gary Sender of Tengion, Inc., +1-267-960-4802; or Keri Mattox of
Pure Communications for Tengion, Inc., +1-215-791-0105
Web site: http://www.tengion.com/
