New Brunswick, New Jersey
December 5, 2001
Senesco Technologies, Inc. ("Senesco'' or the
"Company'')(OTC BB: SENO - news), announced today that it has
completed a two million dollar placement of equity securities
with Stanford Venture Capital Holdings, Inc. ("Stanford''). The
offering consisted of 1,142,858 shares of Common
Stock, warrants to purchase 500,000 shares of Common Stock with
an exercise price of $2.00 per share and warrants to purchase an
additional 500,000 shares of Common Stock with an exercise price
of $3.25 per share.
Stanford is a part of the Stanford Financial Group, an
international network of affiliated companies that, as of
September 30, 2001, maintained in excess of $14 billion in
deposits and assets under management or advisement.
Bruce C. Galton, Senesco's President and Chief Executive
Officer, stated "The capital raised by this round of financing
will satisfy our immediate working capital needs by allowing the
Company to fund current and future research and development
initiatives. We are most pleased with Stanford's strong vote of
confidence in Senesco.''
Senesco is a functional genomics company whose mission is to
enhance the quality and productivity of fruits, flowers,
vegetables and agronomic crops through the control of senescence
(aging) in plants. Results to date include longer shelf life of
perishable produce, increased seed and biomass yield, and
greater tolerance to environmental stress. The Company is based
in
New Brunswick, New Jersey.
Consistent with the Company's commercialization strategy,
Senesco is engaged in discussions with several companies
interested in entering into licensing agreements and strategic
relationships for the use of the Company's technology.
Company news release
N4019
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