Tengion Inc., the East Norriton-based company that calls itself "the only regenerative medicine company focused on discovering , developing, manufacturing and commercializing a range of replacement organs and tissues," especially kidneys and bladders, will sell around 5 million shares in an initial public stock offering "as soon as practicable after the effective date of this registration statement," the company said in a Securities and Exchange Commission filing Friday.
A successful sale would enrich Tengion executives, directors, consultants and others who bought or were granted a total of more than 30 million sales, at $1.82 each, in 2007-09. Investors include Oak Investment Partners XI, LP; HealthCap Venture Capital; Johnson & Johnson Development Corp.; Brookside Capital Partners Fund LP; Bain Capital Venture Entities; L Capital Partners SBIC LP; and Philadelphai-based Quaker VioVentures, which owns about 8 percent of Tengion.
The company, headed by Dr. Steven Nichtberger, depends on science lcensed from Wake Forest University researchers. Tengion burned through around $100 million in the past three years bringing its products toward the medical market. Piper Jaffray & Co. and Leerink Swann LLC are co-managing the sale.