Senesco primarily intends to utilize the net proceeds of these transactions to further advance its multiple myeloma research and development program with the goal of initiating a Phase I clinical trial.
"We are excited by the potential of SNS-101 as a novel treatment alternative for multiple myeloma," said Allen Cato, MD, PhD, CEO of Cato Research. "Our recent investment reflects our confidence in the Company's regulatory and development plans. We look forward to significant progress in the months ahead."
"We are gratified by the confidence expressed in us by our CRO, the Board members and accredited investors involved in this transaction," commented Joel Brooks, Chief Financial Officer. "This funding, along with the $1 million in financing secured several weeks ago, enables us to continue moving forward efficiently with our goal of filing an Investigational New Drug Application and initiating a Phase I clinical trial for SNS-01."
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The shares of common stock have been sold pursuant to an exemption from state and federal securities laws.
In connection with the private placement, the Company will prepare a proxy statement for the Company's stockholders to be filed with the Securities and Exchange Commission (the "SEC"). The proxy statement will contain information about the Company, the private placement and related matters. STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT CAREFULLY WHEN IT IS AVAILABL
|SOURCE Senesco Technologies, Inc.|
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