EAST NORRITON, Pa., April 14 Tengion Inc., a clinicalstage regenerative medicine company focused on the development of neo-organsand neo-vessels, announced today that it has appointed David P. Holveck to itsBoard of Directors. Mr. Holveck brings extensive experience to Tengion,having served as President, CEO, Director and Group Chairman at public andprivate companies. Mr. Holveck is rejoining Tengion's Board as an independentdirector after he previously served as a member of the Board during his tenureas President of Johnson & Johnson Development Corporation.
"We welcome Dave's broad range of experience and success in our industryand are extremely happy to have him rejoin the Tengion Board of Directors,"said Steven Nichtberger, M.D., President and Chief Executive Officer ofTengion. "His proven expertise in growing successful biotech companies andenhancing their value has contributed to our progress to date. We lookforward to continuing to work closely with him as Tengion advances its Neo-Bladder Augment(TM) through Phase 2 clinical trials and into late-stagedevelopment."
Mr. Holveck was appointed President, Chief Executive Officer and aDirector of Endo Pharmaceuticals in April 2008. Prior to joining Endo, Mr.Holveck was President of Johnson & Johnson Development Corporation and hadserved as Vice President, Corporate Development of Johnson & Johnson since2004. Mr. Holveck joined Johnson & Johnson as a company Group Chairman in1999, following the acquisition of Centocor, Inc, where Mr. Holveck was CEO atthe time of the acquisition. After joining Centocor in 1983 and advancing tovarious senior executive positions, Mr. Holveck was named President and ChiefOperating Officer in 1992. Later that year, he was named President and ChiefExecutive Officer. Prior to joining Centocor, Mr. Holveck held positions atGeneral Electric Company, Corning Glass Works and Abbott Laboratories. Inaddition to his work with Tengion, Mr. Holveck is a member of the Board ofTrustees for The Fund for West Chester University, the Board of Directors ofthe Eastern Technology Council and Cleveland Clinic's Industrial AdvisoryBoard.
"I am extremely pleased to be rejoining the Board of Directors at Tengionat this exciting time for the company," said Mr. Holveck. "Tengion's neo-organ technology is poised to change the field of regenerative medicine and Iam looking forward to working with the Board and the management team toachieve the company's goals."
Tengion, a clinical stage biotechnology company, focuses on developing,manufacturing and commercializing human neo-organs and neo-tissues using ourAutologous Organ Regeneration Platform(TM). Tengion uses biocompatiblematerials and a patient's own (autologous) cells to create a functional neo-organ or neo-tissue that is designed to catalyze the body's innate ability toregenerate. Tengion's product candidates may ultimately address the mostcritical problems facing organ and tissue failure patients, enabling people tolead healthier lives without donor transplants or the side effects of relatedtherapies.
SOURCE Tengion Inc.