Senesco Technologies, Inc. Announces Management Change
17 November 2009 - 8:15AM
PR Newswire (US)
NEW BRUNSWICK, N.J., Nov. 16 /PRNewswire-FirstCall/ -- 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. On 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 Executive Officer. Bruce 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." Harlan
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."
Additional details regarding the foregoing are disclosed on the
Company's Form 8-K filed today. 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 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 circumstances. DATASOURCE: Senesco Technologies, Inc. CONTACT:
Jack Van Hulst, President and Chief Executive Officer, Senesco
Technologies, Inc., +1-732-296-8400, ; or Investor Relations, Brian
Ritchie of FD, +1-212-850-5600, Web Site: http://www.senesco.com/
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