Bladder Maker Tengion Looking To Get Full With $35M

Tengion Inc., a King of Prussia, Pa.-based developer of replacement bladders, is looking to raise $35 million in Series B funding.

The company raised about $39 million in 2004 Series A funding at a post-money valuation of around $61 million from such investors as Healthcap Venture Capital, Johnson & Johnson Development Corp., L Capital Partners, Oak Investment Partners and Scheer & Co.

Tengion operates in a field known as regenerative medicine in which it develops new human tissues and organs that are derived from a patient’s own cells, rather than relying on donor transplants, which are in limited supply and are sometimes not compatible with recipients.

The company was founded in 2003.