QualityStocks would like to highlight Senesco Technologies (NYSE Amex: SNT), leveraging proprietary technology that regulates programmed cell death, or apoptosis. Accelerating apoptosis may have applications in treating cancer, while delaying apoptosis may have applications treating certain inflammatory and ischemic diseases.
In the company’s news yesterday,
Senesco Technologies and BioCorp Ventures (a division of technology incubator US Equity Holdings) announced that they have entered into a research and development agreement regarding the use of Senesco’s proprietary Factor 5A (eIF5A) technology platform for sustainable energy applications. The companies will continue ongoing research and development as BCV works on commercializing the technology.
While its internal focus is cancer therapeutics, Senesco is seeking avenues to expand its technology into biofuels. Per the agreement, newly formed BCV is licensed to evaluate Senesco’s technology for the development of plants and plant products suitable for use in the production of biofuel and biofuel feedstock and perennial grasses. BCV will also be fully responsible for assessing the potential of Senesco’s technology as it relates to biofuel applications and determining how to commercialize biofuel products.
“Low-cost, environmentally friendly biofuels will be increasingly valuable as the world moves to a low-carbon future,” Chester Aldridge, chairman of US Equity Holdings stated in the press release. “We are embarking on a critical evaluation phase that will tell us just how powerful Senesco’s technology can be in developing enhanced plant strains that enable biofuels to be produced in an efficient and environmentally responsible way. Senesco’s technology has been licensed in other biotech industries to well-known companies such as Monsanto and Bayer CropScience so we believe that the underlying technology can yield favorable results in biofuels.”
Senesco will be responsible for technology transfer and for providing technical advice to aid in BCV operations.
Per the agreement, after the initial evaluation phase, Senesco will receive annual license maintenance payments and royalty payments if a product is commercialized by BCV. The agreement also entails that Senesco has a 15 percent equity interest in BCV and the right to appoint one member to BCV’s advisory board.
“The US Equity Holdings team has impressed us with its ability to identify and incubate cutting-edge technologies with the possibility to make a significant impact on the world,” said Leslie J. Browne, Ph.D., president and CEO of Senesco. “We are excited to work with BioCorp Ventures to expand the reach of our technology into biofuels while maintaining our internal focus on cancer therapeutics.”
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