BERKELEY HEIGHTS, N.J., Sept. 6, 2011 (GLOBE NEWSWIRE) -- Genta Incorporated (OTCBB:GNTA) announced today that the Company has entered into definitive agreements with institutional investors in a private placement to sell Units, consisting of Senior Secured Convertible Notes and warrants to purchase Senior Secured Convertible Notes, for up to $12.7 million in aggregate gross proceeds before fees and expenses. The transaction is expected to close on or about September 9, 2011, subject to satisfaction of customary closing conditions. Proceeds of the financing will be used to accelerate development of the Company’s small molecule pipeline, particularly late-stage registration studies of tesetaxel, the leading oral taxane in clinical development.
