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Senesco Announces Up To $25.2 Million Equity Financing

Senesco Technologies, Inc. (“Senesco” or the “Company”) (OTCQB:SNTI) announced today that it has entered into a securities purchase agreement with certain investors to raise up to $25.2 million in gross proceeds. The offering is expected to close on or about December 12, 2013, subject to customary closing conditions. The initial net offering proceeds to the Company from the sale of units consisting of shares of common stock and warrants, after deducting the estimated offering expenses payable by the Company of approximately $150,000, are expected to be approximately $5,250,000. The net proceeds of the offering will be used for working capital, research and development and general corporate purposes.

“We are very pleased to have enhanced our financial resources,” said Leslie J. Browne, Ph.D., President and CEO of Senesco. “The structure of this offering not only provides us with immediate gross proceeds of $5.4 million, but it also allows us the possibility to receive up to an additional $12.6 million in the next six months from the exercise of warrants and an additional $7.2 million within the next three years from the exercise of warrants. This immediate infusion of funds will provide us with the necessary resources to complete the ongoing study and plan for the next phase of our cancer therapy (SNS01-T) clinical development. I believe the possible exercise of the warrants in the next six months will give us the necessary resources to further expand our development potential.”

The securities are being offered pursuant to a prospectus forming a part of the Company’s effective registration statements (File Nos. 333-191785 and 333-192787) filed with the Securities and Exchange Commission (the “SEC”), which were declared effective by the SEC on December 11, 2013 and automatically became effective on December 12, 2013, respectively, copies of which may be obtained, when available, at the SEC’s website at http://www.sec.gov.

This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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