Genenta Science announced on March 19, 2025, a €20 million ($21.9 million) financing through the issuance of a Mandatory Convertible Bond to ENEA Tech and Biomedical (ETB). This capital infusion is designated to support the expansion of Genenta's pipeline, specifically by advancing Temferon in metastatic Renal Cell Cancer (mRCC).
ETB, a leading private foundation supervised by the Italian Ministry of Enterprises and Made in Italy, conducted extensive due diligence before committing to this investment. The terms of the mandatory convertible bond are structured to avoid immediate dilution to Genenta's shareholders, with conversion to equity set for March 2028, followed by a two-year lock-up period.
This financing is critical for Genenta, a clinical-stage biotechnology company, to achieve key milestones in its new mRCC trial and validate the Temferon platform. The partnership with ETB provides strong financial backing, ensuring the stability required to pursue strategic collaborations and accelerate therapeutic development.
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