Genenta Showcases Strategic Vision at Premier Biotech Forum in Qatar
MILAN and NEW YORK, April 15, 2025 (GLOBE NEWSWIRE) -- Pierluigi Paracchi, CEO Genenta Science (NASDAQ:GNTA), a pioneer in immuno-oncology and a leader in cell-based therapeutics, will present at "Montalcini Global Biotech Tour" in Doha, Qatar on April 17th, 2025 at the Sheikh Fahad bin Jassim Al Thani theatre, Ministry of Commerce and Industry (MOCI) Building.
Following the announcement of a €20 million ($22.7 million) strategic financing through the issuance of a Mandatory Convertible Bond to ENEA Tech and Biomedical (ETB) — aimed at expanding Genenta's pipeline with the advancement of Temferon™ in metastatic Renal Cell Cancer (mRCC) — and the addition of approximately €3.0 million ($3.2 million) raised via at-the-market (ATM) facility, Genenta CEO Pierluigi Paracchi will present at the event, which will be hosted by H.E. Ahmed bin Mohammed Al Sayed, Minister of State for Foreign Trade Affairs of the State of Qatar, and H.E. Prof. Orazio Schillaci, Italian Minister of Health. H.E. Paolo Toschi, Ambassador of Italy to the State of Qatar, will also deliver opening remarks at the event.
Paracchi, who also serves as Moderator of the National Working Table for the Internationalization of the Italian Biotech sector (NWTIB) — a strategic initiative launched by Italian Deputy Prime Minister and Minister of Foreign Affairs Antonio Tajani — will speak during the session dedicated to the "Italian Biotech & Lifesciences Ecosystem," which will also feature Massimo Carnelos, Head of the Office for Technological Innovation and Startups at the Italian Ministry of Foreign Affairs, and Mario Scuderi, Senior Partner at CDP Venture Capital. CDP VC is a long-standing investor in Genenta, having participated in the company's IPO on Nasdaq in 2021.
The program includes presentations by key institutional stakeholders such as Qatar Research, Development and Innovation Council (QRDI), represented by Dr. Sara A. Abdulla, Senior Research Program Manager, and concludes with bilateral meetings featuring representatives of the Qatar Investment Authority (QIA) — the country's sovereign wealth fund managing over $475 billion in assets — as a strategic interlocutor in cross-border partnerships.
Note: The information provided herein regarding the Mandatory Convertible Bond is a summary and does not purport to be comprehensive. The full terms and conditions of the Mandatory Convertible Bond are set forth in the official subscription agreement by and between Genenta and ETB and relevant bond regulations, which are detailed and govern the issuance of the Mandatory Convertible Bond. Investors are encouraged to refer to the full documentation. The complete documentation with respect to the Mandatory Convertible Bond is available in the Company's Form 6-K filing with the SEC filed concurrently with this press release and on the Company's website at www.genenta.com.
Note: For further details on the ATM facility, investors are encouraged to consult the Company's Form 6-K filed with the SEC on March 19, 2025 and available on Genenta's website at www.genenta.com
About Genenta
Genenta (NASDAQ:GNTA) is a clinical stage immuno-oncology company developing a proprietary hematopoietic stem cells therapy for the treatment of a variety of solid tumor cancers. Genenta first in class product candidate is Temferon™, which is designed to allow the expression of immune-therapeutic payloads within the tumor microenvironment by bone marrow derived myeloid cells and enable a durable and targeted response. Genenta has completed the Phase 1 trial for newly diagnosed Glioblastoma Multiforme patients with an unmethylated MGMT gene promoter, which suggests the potential reprogramming of the tumor microenvironment and inhibiting of myeloid induced tolerance, while allowing the induction of T cell responses, potentially breaking immune tolerance. Genenta has initiated in Q4 2024 a Phase 1/2a metastatic Renal Cell Carcinoma study that will also include a combination with immune checkpoint inhibitors. Genenta's treatments are designed as one-time monotherapies, but with the additional potential, when used in combination, to significantly enhance the efficacy of other approved therapeutics.
Forward-Looking Statements
Statements in this press release contain "forward-looking statements," within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "suggest," "target," "aim," "should," "will," "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Genenta's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict, including risks related to the funding to be provided by the Mandatory Convertible Bond, the completion and timing of Genenta's ongoing clinical trial for newly diagnosed GBM patients with uMGMT-GBM, its clinical trial for metastatic RCC or any related studies, as well as Genenta's ability to fund its research and development plans. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled "Risk Factors" in Genenta's Annual Report on Form 20-F for the year ended December 31, 2023 filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of the date of this announcement, and Genenta undertakes no duty to update such information except as required under applicable law. This press release discusses product candidates that are under preclinical or clinical evaluation and that have not yet been approved for marketing by the U.S. Food and Drug Administration or any other regulatory authority. Until finalized in a clinical study report, clinical trial data presented herein remain subject to adjustment as a result of clinical site audits and other review processes. No representation is made as to the safety or effectiveness of these product candidates or the use for which such product candidates are being studied.Temferon™ is an investigational product candidate for which the effectiveness and safety have not been established. In addition, Temferon™ is not approved for use in any jurisdiction.
Genenta Media
Tiziana Pollio, Mobile: +39 348 23 15 143
e-mail: [email protected]
