Full Press Release Details
| Company Contact: | Investor Relations Contact: |
| Senesco Technologies, Inc. | FD |
| Jack Van Hulst | Brian Ritchie |
| President and Chief Executive Officer | ( brian.ritchie@fd.com ) |
| ( jvanhulst@senesco.com ) | (212) 850-5600 |
| (732) 296-8400 |
TECHNOLOGIES, INC. ANNOUNCES
BRUNSWICK, N.J. - November 16, 2009 -- Senesco Technologies, Inc. ("Senesco" or
the "Company") (NYSE Amex: SNT) today announced that, on November 16, 2009,
Bruce C. Galton resigned from his position as a member of the board of
directors. In addition, Mr. Galton resigned from his positions as the
Company's President and Chief Executive Officer to pursue other
interests. Mr. Galton and the Company currently are discussing the
terms of Mr. Galton's separation with the Company.
November 16, 2009, the Board of Directors appointed Jack Van Hulst, a current
member of the Board of Directors, to serve as the Company's President and Chief
Galton commented, "My goal has been to bring Senesco's Factor 5A technology
to the clinic to determine its utility to treat multiple myeloma, a serious bone
marrow cancer. The Company is poised to initiate its pivotal toxicology
study to support an IND application. It has been an honor and a pleasure
to bring the Company to this point."
Waksal, M.D., Senesco's Chairman, commented, "We wish Bruce well with his future
endeavors, and we look forward to having Jack as our new President and Chief
Executive Officer. I will continue to play an active role with the
Company. The Board, management and all employees remain excited about
the future of the Company."
details regarding the foregoing are disclosed on the Company's Form 8-K filed
Senesco Technologies, Inc.
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.
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 ability
to successfully transition to new management; the ability of the Company to
consummate additional financings; 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, 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