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A. Brian Davis
Tengion Provides Clinical Update and Reports Third Quarter 2014 Financial Results and Cash Position

WINSTON-SALEM, NC, November 14, 2014
-- Tengion, Inc. (OTCQB: TNGN), a leader in regenerative medicine, today reported key clinical data along with financial and operating results for the quarter ended September 30, 2014.

“We remain committed to realizing the full value of our Organ Regeneration Platform and to maximizing value for our stakeholders and, therefore, in September, we announced that we retained Jefferies LLC as an executive financial advisor to assist us with reviewing and structuring potential strategic transactions,” commented John L. Miclot, President and Chief Executive Officer of Tengion. “We look forward to providing further updates on this process as well as updates on our ongoing Phase 1 clinical trials for the Neo-Kidney Augment in Sweden and in the U.S. and potential next phase trials for the Neo-Urinary Conduit.”

Neo-Kidney Augment™ (NKA) Cellular Therapy Clinical Update

Tengion is currently conducting Phase 1 clinical trials for its NKA cellular therapy in Sweden and the United States and, assuming the Company is able to obtain additional funding, expects to enroll up to 15 and 12 patients, respectively, in these two ongoing trials. Both Phase 1 trials are designed to evaluate the safety and delivery of an active regenerative dose of NKA cellular therapy, including two years of follow-up, in patients with chronic kidney disease (CKD). Assuming Tengion is able to obtain additional funding, the Company expects to report full data after completing patient enrollment for both trials during the first half of 2015.

In August 2014, Tengion announced encouraging six-month interim data for the first five patients with advanced CKD implanted in the Phase 1 clinical trial being conducted at the Karolinska Institute in Stockholm, Sweden. NKA cellular therapy was successfully implanted into one kidney of each patient. Tengion reported promising trends in the six-month data measurements of kidney function, including hemoglobin, serum creatinine, calculated estimated Glomerular Filtration Rate (eGFR), magnetic resonance imaging (MRI), and renal scintigraphy. Four surgical procedure-related serious adverse events were recorded in this trial. None of these events were determined to be related to the NKA material and none caused the patients to discontinue the trial or the Data Safety Monitoring Board to stop the trial. None of the reported adverse events were kidney-related.

The following information was filed by Tengion Inc (TNGNQ) on Friday, November 14, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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