Financially troubled Tengion (Nasdaq: TNGN) has wrapped up the relocation of its corporate headquarters to Winston-Salem from Pennsylvania.
The company, which focuses on regenerative medicine, said the move was completed on Wednesday.
The relocation from East Norriton, Pa. of its administrative and other operations to the Triad consolidates the company’s personnel as part of a corporate restructuring.
“We are excited to move our corporate headquarters to Winston-Salem after having much of our research and development operations located here since 2004,” said John Miclot, the firm’s CEO, in a statement. “This relocation allows us to focus our resources more efficiently on advancing our Neo-Urinary Conduit™ and Neo-Kidney Augment™ programs. The presence of a well-educated, high-quality workforce was also a factor in the decision to move our headquarters to Winston-Salem.”
Miclot was named CEO in December.
The company cut staff and announced plans to consolidate in North Carolina in November.
Tengion has an organ regeneration program using patients’ cells. Among its pipeline programs are a Neo-Kidney Augment program, intended to prevent or delay the need for dialysis or kidney transplant by catalyzing the regeneration of functional kidney tissue in patients with advanced chronic kidney disease, that has completed Phase 2 clinical trials. The company expects to submit a pre-investigational new drug f iling with the U.S. Food and Drug Administration in the first half of 2012. It has initiated a Phase I clinical trial for its Neo-Urinary Conduit in patients with bladder cancer who require a total cystectomy.
(MedCity News contributed to this report.)
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