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Tengion CEO Nichtberger resigns

Friday, July 1, 2011 10:02 AM

Dr. Steven A. Nichtberger has resigned as president and CEO of Tengion, a regenerative medicine company focused on developing replacement organs and tissues grown from a person’s own cells, according to a report in the Philadelphia Business Journal.

Nichtberger is also stepping down from the company’s board of directors.

“I am pleased that as I leave my role at Tengion, the company is positioned to pursue the advancement of its organ regeneration platform and I wish Tengion success in bringing its product candidates to patients in need,” said Nichtberger in a statement released by the company.

Tengion of East Norriton, Pa., said David I. Scheer, the company’s board chairman, will assume a more active role in guiding the company while an external search is conducted for a new chief executive officer.

Nichtberger was at the helm at Tengion earlier this year when the company’s dwindling cash flow problem was resolved through a $31.4 million private stock sale.

Tengion reaffirmed its plan to submit next quarter to the FDA additional clinical data and modifications to the surgical approach for its experimental Neo-Urinary Conduit product.

The company also reiterated its plans to request a meeting with the FDA by the end of this year to discuss its plan for conducting clinical trials for its Neo-Kidney Augment product, which is intended to prevent or delay the need for dialysis or kidney transplant by increasing functional kidney mass in patients with advanced chronic kidney disease.

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