Tengion appoints John Miclot president and CEO
This article was originally published in Clinica
Tengion, a clinical-stage biotech company, has appointed John Miclot president and CEO. Mr Miclot was most recently an executive-in-residence at Warburg Pincus, and prior to that was president and CEO of CCS Medical, a company owned by Warburg Pincus. He served in this role from 2008 until the completion of a financial restructuring of the company in 2010. The company has had a difficult year, with formerCEO Steven Nichtberger resigning in July to "pursue other opportunities" (www.clinica.co.uk, 4 July 2011). In February, it announced it had been in merger talks with an unnamed company, but the deal fell through after Tengion's share price and trading volume spiked, reaching as high as $5.51. However, the company had some good news in September when it resumed patient enrolment for a Phase I trial of its lead product, the Neo-Urinary Conduit, after the US FDA approved changes made to the procedure for implanting the device (www.clinica.co.uk, 15 September 2011). The product is being evaluated in bladder cancer patients requiring a urinary diversion after their bladder has been removed.