Tengion garners $50M in VC

Tengion, which is developing a method for making replacement organs from the cells of patients, raised $50 million from a group of venture capital firms led by Quaker BioVentures and Bain Capital. Much of the money will be used to fund human trials of its neo-bladder. "We believe Tengion is a world leader in regenerative medicine," said Brenda Gavin, managing partner of Quaker BioVentures. "The neo-bladder is one of the most promising developments in this field."

- read this Philadelphia Business Journal report [1] on the round

PLUS: Adnexus Therapeutics of Waltham, MA has raised $27 million in its second round. Release [2]