Tengion, Inc. (OTCPK:TNGN) announced that it will receive $74,304,002 in funding on June 28, 2013. The company will issue convertible debt and option, warrant or other right to acquire another security to the investors. The transaction will include participation from 22 investors. The company will issue securities pursuant to exemption provided under Regulation D.

On the same date, the company announced that it has received $18,576,000 in funding.on June 28, 2013. The company has issued warrants to the investor to purchase its common shares. The company has received the funding from existing investors RA Capital Management LLC, Deerfield Management Company, L.P., Bay City Capital LLC, and HealthCap. The company has received the funding from Deerfield Special Situations International Master Fund, L.P., Deerfield Capital, L.P., and Deerfield Special Situations Fund, LP, funds managed by returning investor Deerfield Management Company, L.P., Quintessence Fund L.P., and QVT Fund V LP, funds managed by QVT Financial LP, Sabby Volatility Warrant Master Fund Ltd, and Sabby Volatility Warrant Master Fund Ltd, funds managed by Sabby Management, LLC, Empery Asset Master Ltd, a fund co-managed by Empery AM GP, LLC and Empery Asset Management, LP, Bay City Capital Fund V Co Investment Fund LP, and Bay City Capital Fund V, L.P., funds managed by existing investor Bay City Capital LLC, HealthCap IV, a fund managed by existing investor HealthCap, RA Capital Healthcare Fund, L.P., a fund manged by existing investor RA Capital Management, LLC, Opus Point Healthcare Innovations Fund, LP, a fund managed by new investor Opus Point Partners, Hudson Bay Master Fund Ltd, a fund managed by Hudson Bay Capital Management LP, Midsummer Small Cap Master, Ltd., a fund managed by new investor Midsummer Capital, LLC, Capital Ventures International, L.P., a fund managed by new investor Heights Capital Management, Inc., Blackwell Partners LLC, Perceptive Life Sciences Fund LP, a fund managed by Perspective Advisors LLC, HealthCap IV KB, HEALTHCAP IV Bis LP, a fund managed by new investor HealthCap IV GP SA. The notes are convertible under certain circumstances into shares of the company's common stock at a conversion rate of 1,449 shares per $1,000 of principal amount of the notes. The conversion rate is subject to adjustment under certain circumstances. The note carries a coupon of 10% per annum and would mature on June 30, 2016. In addition, holders of the notes will receive 5 year warrants to purchase an aggregate of 26,921,741 shares of common stock for up to June 30, 2018 and ten-year warrants to purchase up to an aggregate of 53,843,479 shares of common stock up to June 30, 2023, at an initial exercise price of $0.69 per share. The exercise price and number of shares issuable upon exercise of the warrants are subject to adjustment under certain circumstances. The company issued securities pursuant to exemption provided under Regulation D and Regulation S. Louis J. Ellis of Roth Capital Partners, LLC acted as sole placement agent to the company. Marc A. Rubenstein, Esq., of Ropes & Gray LLP acted as legal advisor to the company. Mark I. Fisher, Esq and Elliot Press Esq, of Katten Muchin Rosenman LLP acted as legal advisor to the company.