The US Bankruptcy Court gave an order approving the private sale of substantially all the assets of Tengion, Inc. on March 6, 2015. The Chapter 7 Trustee has been authorized to sell substantially all assets of the debtor to Regenmedtx, LLC, the purchaser, for a purchase price of $1.50 million at closing plus a credit bid in full of assigned secured claims of $20.56 million pursuant to the private asset purchase agreement dated February 12, 2015. The debtor's assets include manufacturing raw materials, equipment, intellectual property, etc.

Mattew P. Ward, Esq. of Womble Carlyle Sandridge & Rice, LLP is advising the buyer.