Genenta Announces €20 million ($21.9M) Financing To Expand Pipeline As Brain Tumor Trial Is Showing Promising Survival Rates

Core Viewpoint - Genenta Science has secured €20 million ($21.9 million) in financing through a Mandatory Convertible Bond from ENEA Tech and Biomedical (ETB) to advance its pipeline, particularly focusing on Temferon for metastatic Renal Cell Cancer (mRCC) [1][2] Financing Details - The total bond amount is €20 million ($21.9 million), with a maturity of three years and mandatory conversion set for March 2028 [6] - The funding structure includes a first tranche of €7.5 million ($8.2 million) for assessing safety in the ongoing Phase 1/2a trial for mRCC, and a second tranche of €12.5 million ($13.7 million) conditional upon achieving safety and tolerability [6] - ETB's equity in Genenta will be capped at 29%, with a maximum conversion price of $17.64 per share [6] Clinical Developments - The Phase 1/2a trial for mRCC has begun enrolling patients, enhancing Genenta's clinical pipeline for Temferon [3] - Recent data from the Phase 1/2a Glioblastoma Multiforme (GBM) trial indicates a two-year survival rate increase to 29% from 25%, with median overall survival now at 17 months [2][3] - Historical data shows that standard care for uMGMT patients has a two-year survival rate of approximately 14% and median overall survival of 13-15 months [2] Strategic Partnerships - ETB conducted extensive due diligence before the investment, indicating confidence in Genenta's long-term value [2] - The partnership with ETB is expected to provide financial stability necessary for advancing the validation of the Temferon platform and pursuing strategic collaborations [2]