Genenta Science Obtains $21.9 Million Financing to Expand Pipeline

MT Newswires Live

03-19

Genenta Science (GNTA) said Wednesday it has obtained a 20 million euro ($21.9 million) financing via the issuance of a mandatory convertible bond to ENEA Tech and Biomedical, or ETB, to advance temferon in metastatic renal cell cancer.

ETB is a private foundation supervised by Italy's Ministry of Enterprises, the company said.

Genenta Chief Executive Pierluigi Paracchi said the bond's conversion to equity is set for March 2028, followed by a lock-up period of two years.

The company said a phase 1/2a trial in metastatic renal cell carcinoma has started enrolling patients.

Genenta also said the February data cutoff from a phase 1/2a glioblastoma multiforme trial showed "an increase in the percentage of patients surviving at two years," rising to 29% from 25% in October.

Price: 3.71, Change: -0.08, Percent Change: -2.11

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