Tengion, Inc. filed a voluntary petition for liquidation under Chapter 7 in the US Bankruptcy Court for the District of Delaware on December 29, 2014. The debtor listed its assets of $2.78 million and liabilities of $32.68 million. The largest unsecured creditors include Brightleaf Capital, Celgene Corporation, Deerfield Capital, L.P., QVT Financial LP, RA Capital Management, LLC, Bay City Capital LLC, Perceptive Advisors LLC, Opus Point Partners, and HealthCap.

The debtor is represented by Evelyn J. Meltzer of Pepper Hamilton LLP and Ropes & Gray LLP as its legal counsels. The debtor hired Jefferies LLC as financial advisor.