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Biotech firm GenSpera completes another funding round
May 2, 2011

San Antonio Business Journal - by Tamarind Phinisee

GenSpera Inc. recently raised $2.2 million to help advance research into a promising cancer-treatment drug.
The securities sold during the private placement were priced at $1.65 per unit - with each unit consisting of one share of common stock and a half common stock purchase warrant.

Craig Dionne, Ph.D., GenSpera CEO and president, says the offering brings the total funds raised by the firm this year to about $6.2 million.

"The monies raised in January and February assured funding for an aggressive Phase II clinical program for our lead drug G-202, currently in a FDA-approved Phase I safety trial," Dionne says. "This current financing provides funds for the full pre-clinical development of G-115, our second drug, specifically targeted for prostate cancer."

San Antonio-based GenSpera (OTCBB: GNSZ) is conducting Phase 1 clinical trials at the Cancer Therapy Research Center in San Antonio, Johns Hopkins University in Baltimore and the University of Wisconsin Carbone Cancer Center in Madison.

 

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