NEW BRUNSWICK, N.J., Aug. 1 /PRNewswire-FirstCall/ -- Senesco Technologies, Inc. ("Senesco" or the "Company") announced today that Bayer CropScience has successfully completed the first R&D milestone related to Bayer's use of Senesco's technology in Brassica oilseeds.
Senesco's proprietary gene technology was licensed to Bayer CropScience in November 2006 to enhance Canola yields in Bayer's InVigor(R) canola hybrids and future hybrid's business internationally. Upon completion of this milestone, Senesco received an undisclosed payment from Bayer.
"We are pleased to arrive at this initial R&D milestone with Bayer CropScience," said Bruce Galton, President and CEO of Senesco. "We believe that our gene technology has broad application to both food and non-food crops."
About Senesco Technologies, Inc.
Senesco Technologies, Inc. is a U.S. biotechnology company, headquartered in New Brunswick, NJ. Senesco has initiated preclinical research to trigger or delay cell death in mammals (apoptosis) to determine if the technology is applicable in human medicine. Accelerating apoptosis may have applications to development of cancer treatments. Delaying apoptosis may have applications to certain inflammatory and ischemic diseases. Senesco takes its name from the scientific term for the aging of plant cells: senescence. Delaying cell breakdown in plants extends freshness after harvesting, while increasing crop yields, plant size and resistance to environmental stress. The Company believes that its technology can be used to develop superior strains of crops without any modification other than delaying natural plant senescence. Senesco has partnered with leading-edge companies engaged in agricultural biotechnology and earns research and development fees for applying its gene-regulating platform technology to enhance its partners' products.
Certain statements included in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from such statements expressed or implied herein as a result of a variety of factors, including, but not limited to: the Company's ability to raise additional capital to fund its research and development efforts; the development of the Company's gene technology; the approval of the Company's patent applications; the successful implementation of the Company's research and development programs and joint ventures; the success of the Company's license agreements; the acceptance by the market of the Company's products; success of the Company's preliminary studies and preclinical research; competition and the timing of projects and trends in future operating performance, our ability to maintain our continued listing standards for the next 12 months, as well as other factors expressed from time to time in the Company's periodic filings with the Securities and Exchange Commission (the "SEC"). As a result, this press release should be read in conjunction with the Company's periodic filings with the SEC. The forward-looking statements contained herein are made only as of the date of this press release, and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
CONTACT: Company Contacts, Bruce Galton, Chief Executive Officer of
Senesco Technologies, Inc., +1-732-296-8400, bgalton@senesco.com; or
Investor Relations Contact, Brian Ritchie of FD, +1-212-850-5600,
brian.ritchie@fd.com, for Senesco Technologies, Inc.
Web site: http://www.senesco.com//
