Unassociated Document Company Contact: Investor Relations Contact : Senesco Technologies, Inc. FD Joel Brooks Brian Ritchie Chief Financial Officer (brian.ritchie@fd.com) ( jbrooks@senesco.com ) (212) 850-5600 (732) 296-

Technologies, Inc. Announces Private Placement Financing for Gross

to be Utilized to Advance Lead Multiple Myeloma Drug Candidate into Phase

BRUNSWICK, N.J. (March 29, 2010) - Senesco Technologies, Inc. ("Senesco" or the

"Company") (NYSE Amex: SNT) has, on March 26, 2010,

entered into definitive agreements with institutional and accredited investors

for a private placement of up to 11,497 shares of Convertible Preferred Stock of

the Company and Warrants to purchase up to 35,928,125 shares of Common Stock for

a gross purchase price of approximately $11,497,000. Investors in

this financing included certain members of Senesco's Board of Directors,

including Harlan Waksal, M.D., and Christopher Forbes.

primarily intends to utilize the proceeds of this private placement to help

advance its multiple myeloma research & development program; with the goal

of initiating a Phase 1b/2a clinical trial for multiple myeloma.

grateful for the support that the institutional and private investors who are

participating in this financing are providing to us," said Dr. Waksal, Senesco's

Chairman of the Board. "With the near-term funding overhang removed,

our sole focus is now on completing the steps necessary to advance our multiple

myeloma drug candidate into and through a Phase 1b/2a clinical

Preferred Stock is initially convertible into approximately 35,928,125 shares of

Common Stock. The Warrants will have an initial exercise price of

$0.35 per share, and will expire five years from the closing date, though they

are exercisable in whole or in part at any time prior to

expiration. The Company intends to close on approximately $10.3

million in gross proceeds on or about April 1, 2010, and the remaining $1.2

million in gross proceeds upon the receipt of stockholder approval.

Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services,

Inc. (NYSE Amex: LTS), acted as the sole placement agent for 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

preferred stock and warrants have been sold pursuant to an exemption from state

and federal securities laws.

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 AVAILABLE, AS IT WILL

CONTAIN IMPORTANT INFORMATION THAT STOCKHOLDERS SHOULD CONSIDER BEFORE

MAKING A DECISION ABOUT APPROVING THE FINANCING AND TRANSACTIONS CONTEMPLATED

addition to receiving the proxy statement from the Company by mail, shareholders

will be able to obtain the proxy statement, as well as other filings containing

information about the Company, without charge, from the SEC's website (http://www.sec.gov )

or, without charge, from the Company's website at www.senesco.com or

by directing such request to Senesco Technologies, Inc. 303 George

St., Suite 420, New Brunswick, New Jersey 08901 Attention: Joel

Company and its directors and executive officers and other members of management

and employees may be deemed to be participants in the solicitation of proxies.

Information concerning the Company and its directors and executive officers is

set forth in the Company's proxy statement and Annual Report on Form 10-K

previously filed with the SEC.

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

of the Company to close on the financing; the ability of the Company to file an

IND for SNS-01, its multiple myeloma drug candidate; 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

successful conversion of the Company's letter of intent into a license

agreement; 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