Tengion Inc. Appoints A. Brian Davis Chief Financial Officer
EAST NORRITON, Pa., Aug. 2 /PRNewswire-FirstCall/ -- Tengion Inc. (Nasdaq: TNGN) today announced that it has appointed A. Brian Davis to the position of Chief Financial Officer. Mr. Davis comes to Tengion after 15 years with Neose Technologies, Inc., a biopharmaceutical company using enzymatic technologies to develop improved protein therapeutics. At its peak, Neose employed 200 individuals, including cGMP production, development and research personnel at three sites.
"Brian's demonstrated excellence as a public biotech company CFO, his strong accounting and finance background, and his experience supporting financial evaluation of business development transactions will be valuable to Tengion as we continue to advance the company and our product candidates," stated Steven Nichtberger, M.D., President and Chief Executive Officer of Tengion.
Mr. Davis advanced from Controller to SVP and CFO at Neose, and brings highly relevant experience to Tengion including raising over $300 million in public and private equity and debt, financial evaluation of business development transactions, treasury and cash management, SEC reporting, Sarbanes-Oxley compliance, and investor relations. Mr. Davis holds a BS in Accounting from Trenton State College and an MBA from the Wharton School of the University of Pennsylvania. He is a Certified Public Accountant.
Linda Hearne, Tengion's Vice President, Finance, will be stepping down from her role in order to relocate with her family overseas. "During her nearly six years with Tengion, Linda has played a defining role in the development of our finance function and was instrumental in our becoming a public company earlier this year. We wish Linda and her family all the best in their new life abroad and we are grateful that she will remain with Tengion in the coming weeks to ensure a smooth transition," said Dr. Nichtberger.
Tengion, a clinical-stage biotechnology company, has pioneered the Organ Regeneration Platform that enables us to create proprietary product candidates that are intended to harness the intrinsic regenerative pathways of the body to produce a range of native-like organs and tissues. Our product candidates seek to eliminate the need to utilize other tissues of the body for a purpose to which they are poorly suited, procure donor organs or administer anti-rejection medications. Tengion commenced a Phase I clinical trial in the first half of 2010 for its lead product candidate, the Neo-Urinary Conduit, an autologous implant that is intended to catalyze regeneration of native-like bladder tissue for bladder cancer patients requiring a urinary diversion following bladder removal. Tengion has also applied its technology in two Phase II clinical trials for Tengion's Neo-Bladder Augment for the treatment of neurogenic bladder and is in pre-clinical development of its Neo-Kidney Augment. Tengion has worldwide rights to its product candidates.
SOURCE Tengion Inc.