NEW BRUNSWICK, N.J., Aug. 1 SenescoTechnologies, Inc. ("Senesco" or the "Company") (Amex: SNT) announced todaythat Bayer CropScience has successfully completed the first R&D milestonerelated to Bayer's use of Senesco's technology in Brassica oilseeds.
Senesco's proprietary gene technology was licensed to Bayer CropScience inNovember 2006 to enhance Canola yields in Bayer's InVigor(R) canola hybridsand future hybrid's business internationally. Upon completion of thismilestone, Senesco received an undisclosed payment from Bayer.
"We are pleased to arrive at this initial R&D milestone with BayerCropScience," said Bruce Galton, President and CEO of Senesco. "We believethat our gene technology has broad application to both food and non-foodcrops."
About Senesco Technologies, Inc.
Senesco Technologies, Inc. is a U.S. biotechnology company, headquarteredin New Brunswick, NJ. Senesco has initiated preclinical research to trigger ordelay cell death in mammals (apoptosis) to determine if the technology isapplicable in human medicine. Accelerating apoptosis may have applications todevelopment of cancer treatments. Delaying apoptosis may have applications tocertain inflammatory and ischemic diseases. Senesco takes its name from thescientific term for the aging of plant cells: senescence. Delaying cellbreakdown in plants extends freshness after harvesting, while increasing cropyields, plant size and resistance to environmental stress. The Companybelieves that its technology can be used to develop superior strains of cropswithout any modification other than delaying natural plant senescence.Senesco has partnered with leading-edge companies engaged in agriculturalbiotechnology and earns research and development fees for applying itsgene-regulating platform technology to enhance its partners' products.
Certain statements included in this press release are forward-lookingstatements within the meaning of the Private Securities Litigation Reform Actof 1995. Actual results could differ materially from such statementsexpressed 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 fundits research and development efforts; the development of the Company's genetechnology; the approval of the Company's patent applications; the successfulimplementation of the Company's research and development programs and jointventures; the success of the Company's license agreements; the acceptance bythe market of the Company's products; success of the Company's preliminarystudies and preclinical research; competition and the timing of projects andtrends in future operating performance, our ability to maintain our continuedlisting standards for the next 12 months, as well as other factors expressedfrom time to time in the Company's periodic filings with the Securities andExchange Commission (the "SEC"). As a result, this press release should beread in conjunction with the Company's periodic filings with the SEC. Theforward-looking statements contained herein are made only as of the date ofthis press release, and the Company undertakes no obligation to publiclyupdate such forward-looking statements to reflect subsequent events orcircumstances.Company Contacts: Investor Relations Contact: Senesco Technologies, Inc. FD Bruce Galton Brian Ritchie Chief Executive Officer (firstname.lastname@example.org) (email@example.com) (212) 850-5600 (732) 296-8400
SOURCE Senesco Technologies, Inc.