Genenta Science (NASDAQ: GNTA), a clinical-stage biotechnology company pioneering the development of hematopoietic stem progenitor cell immuno-gene therapy for solid tumors, including the lead product candidate, Temferon(TM), has closed on its upsized initial public offering. The offering was comprised of 2.4 million American Depositary Shares, or ADSs, with each one representing one ordinary share, offered at a public price of $11.50 per share. In addition, Genenta also sold 720,114 ordinary shares reserved for subscription; those were purchased by existing shareholders for $11.50 per share. According to the announcement, gross proceeds from the IPO reached approximately $36 million before typical deductions. Roth Capital Partners acted as sole book-running manager for the offering.
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About Genenta Science S.p.A.
Genenta is a clinical-stage biotechnology company pioneering the development of a proprietary hematopoietic stem cell gene therapy for the treatment of a variety of solid tumor cancers. Temferon is based on ex-vivo gene transfer into autologous hematopoietic stem/progenitor cells (“HSPCs”) to deliver immunomodulatory molecules directly via tumor-infiltrating monocytes/macrophages (Tie2 Expressing Monocytes, TEMs). Temferon, which is under investigation in a phase 1/2a clinical trial in newly diagnosed glioblastoma multiforme patients who have an unmethylated MGMT gene promoter (“uMGMT-GBM”), is based on Genenta’s platform technology, which is not restricted to preselected tumor antigens nor type and may reach solid tumors, one of the main unresolved challenges in immuno-oncology. For more information, please visit www.Genenta.com.
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