Senesco Technologies Completes $2.3 Million Equity Financing

Senesco Technologies, Inc. recently announced that the Company closed its previously announced $2.3 Million private placement consisting of approximately 2 Million shares of its common stock at a price of $1.07 per share of common stock and warrants to purchase nearly a 1 Million shares of its common stock at an exercise price of $1.18 per share of common stock. Certain members of the Company’s Board of Directors invested approximately $1.5 million of the private placement, with the balance by certain institutional and accredited investors. In connection with this private placement, Senesco has agreed to file a registration statement on Form S-3 by November 10, 2006 to register the shares of common stock and the shares underlying the warrants.

The proceeds from the private placement will be used for the Company’s ongoing pre-clinical research programs in cancer and inflammatory diseases, as well as general operating expenses.

Senesco has initiated pre-clinical research to trigger or delay cell death in mammals (apoptosis) to determine if its technology is applicable in human medicine. Accelerating apoptosis may have applications to the development of cancer treatments. Delaying apoptosis may have applications to certain diseases such as glaucoma, ischemia and arthritis, among others. Senesco takes its name from the scientific term for the aging of plant cells: senescence. The Company has developed technology that regulates the onset of cell death. Delaying cell breakdown in plants extends freshness after harvesting, while increasing crop yields, plant size and resistance to environmental stress for flowers, fruits and vegetables. In addition to its human health research programs, 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.