Celgene (CELG) has paid $15M for the right to first negotiation for the Neo-Kidney Augment...

|About: Celgene Corporation (CELG)|By:, SA News Editor

Celgene (CELG) has paid $15M for the right to first negotiation for the Neo-Kidney Augment product of closely held Tengion. The product is in Phase I trials and is designed to restore renal function in patients with chronic kidney disease. Celgene has also obtained an exclusive option to acquire assets such as Tengion's technology for growing esophageal implants, and it has received stock warrants. Celgene invested $5M in Tengion in October 2012. (PR)