Tengion Appoints David P. Holveck to its Board of Directors

EAST NORRITON, Pa., April 14 /PRNewswire/ -- Tengion Inc., a clinical stage regenerative medicine company focused on the development of neo-organs and neo-vessels, announced today that it has appointed David P. Holveck to its Board of Directors. Mr. Holveck brings extensive experience to Tengion, having served as President, CEO, Director and Group Chairman at public and private companies. Mr. Holveck is rejoining Tengion's Board as an independent director after he previously served as a member of the Board during his tenure as President of Johnson & Johnson Development Corporation.

"We welcome Dave's broad range of experience and success in our industry and are extremely happy to have him rejoin the Tengion Board of Directors," said Steven Nichtberger, M.D., President and Chief Executive Officer of Tengion. "His proven expertise in growing successful biotech companies and enhancing their value has contributed to our progress to date. We look forward to continuing to work closely with him as Tengion advances its Neo- Bladder Augment(TM) through Phase 2 clinical trials and into late-stage development."

Mr. Holveck was appointed President, Chief Executive Officer and a Director of Endo Pharmaceuticals in April 2008. Prior to joining Endo, Mr. Holveck was President of Johnson & Johnson Development Corporation and had served as Vice President, Corporate Development of Johnson & Johnson since 2004. Mr. Holveck joined Johnson & Johnson as a company Group Chairman in 1999, following the acquisition of Centocor, Inc, where Mr. Holveck was CEO at the time of the acquisition. After joining Centocor in 1983 and advancing to various senior executive positions, Mr. Holveck was named President and Chief Operating Officer in 1992. Later that year, he was named President and Chief Executive Officer. Prior to joining Centocor, Mr. Holveck held positions at General Electric Company, Corning Glass Works and Abbott Laboratories. In addition to his work with Tengion, Mr. Holveck is a member of the Board of Trustees for The Fund for West Chester University, the Board of Directors of the Eastern Technology Council and Cleveland Clinic's Industrial Advisory Board.

"I am extremely pleased to be rejoining the Board of Directors at Tengion at this exciting time for the company," said Mr. Holveck. "Tengion's neo- organ technology is poised to change the field of regenerative medicine and I am looking forward to working with the Board and the management team to achieve the company's goals."

About Tengion

Tengion, a clinical stage biotechnology company, focuses on developing, manufacturing and commercializing human neo-organs and neo-tissues using our Autologous Organ Regeneration Platform(TM). Tengion uses biocompatible materials 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 to regenerate. Tengion's product candidates may ultimately address the most critical problems facing organ and tissue failure patients, enabling people to lead healthier lives without donor transplants or the side effects of related therapies.

SOURCE Tengion Inc.

Suggested Articles

The profit margins and management of Community Health Group raise questions about oversight of managed care insurers.

Financial experts are warning practices about the pitfalls of promoting medical credit cards to their patients.

A proposed rule issued by HHS on Tuesday would expand short-term coverage, a move Seema Verma said will have "virtually no impact" on ACA premiums.