Tengion Increases IPO Expectations

Tengion Inc., an East Norriton, Penn.-based regenerative medicine company focused on replacement organs like bladders, has raised the target for its IPO from $40.25 million to $46 million. It also has added Leerink Swann as a co-lead underwriter, alongside Piper Jaffray.

Tengion has raised over $140 million in VC funding, from Oak Investment Partners (19.6% pre-IPO stake), HealthCap (14.3%) Johnson & Johnson Development Corp. (12.5%), Brookside Capital (8.6%), Bain Capital Ventures (8.5%), Quaker BioVentures (8.3%), L Capital Partners (6.4%), Deerfield Partners and Safeguard Scientifics. www.tengion.com

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