From L-R: Luigi Naldini, Genenta CEO Pierluigi Paracchi and Genenta CMO Carlo Russo

Ital­ian can­cer gene ther­a­py biotech makes his­to­ry with mod­est Nas­daq IPO

Af­ter years of de­vel­op­ing its gene ther­a­py for can­cer on the out­skirts of biotech, Genen­ta has land­ed on Nas­daq as the first Ital­ian biotech on the Amer­i­can ex­change.

Genen­ta’s IPO is small com­pared to what you usu­al­ly see these days, but the $36 mil­lion — or $40 mil­lion if all op­tions are ex­er­cised — in gross pro­ceeds will al­low Pier­lui­gi Parac­chi’s crew to take its cur­rent proof-of-con­cept tri­al to fruition and pave the way to Phase II, fund long-term mon­i­tor­ing of pa­tients, pay for pre­clin­i­cal re­search and man­u­fac­tur­ing, while leav­ing enough mon­ey to run the ac­tu­al Phase II tri­al slat­ed to start in 2023 (the busi­ness de­vel­op­ment and ad­min team al­so gets some).

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