SAN ANTONIO - (Business Wire) GenSpera, Inc. announced that its common stock began trading yesterday on the OTC Bulletin Board® (“OTCBB”) under the trading symbol GNSZ. “The quotation of our common stock on the OTCBB is another important milestone in the growth of our company, especially as it follows FDA approval to start our first clinical trial, which we plan to commence later this year,” said Dr. Craig Dionne, GenSpera CEO. “We hope this will increase GenSpera’s exposure to the investment community and we are excited to enter this new phase of our company evolution.”
GenSpera received FDA approval September 11, 2009 to begin a Phase I clinical trial of its lead drug, G-202, in patients with cancers that have progressed after treatment with other anti-cancer agents. While the primary trial endpoints of the study will be to determine drug safety and tolerability, the design also allows the collection of efficacy data as well. In preclinical testing, G-202 was shown to ablate tumors in animal models of breast cancer, prostate cancer and kidney cancer. GenSpera, Inc. owns and controls all rights to G-202 and anticipates a strategic partnership to maximize the value of the drug as it progresses through future clinical trials.
About GenSpera
GenSpera, Inc. is a development stage oncology company focused on therapeutics that deliver a potent, unique and patented drug directly to tumors. GenSpera’s technology platform combines a potent cytotoxin (12ADT) with a pro-drug delivery system that activates the drug only within the tumor. Unlike standard cancer drugs, plant-derived 12ADT kills cells independent of their division rate, thus making it effective at killing all fast- and slow-growing cancers and cancer stem cells. GenSpera’s pro-drug platform is the subject of six issued patents with three additional patents pending.
GenSpera plans to initiate a Phase I cancer trial with its lead drug, G-202, in the fourth quarter of 2009. G-202 targets the established blood vessels that nourish solid tumors, thus destroying the tumor’s blood supply. This is a dramatic improvement upon anti-angiogenic drugs that primarily only stop the growth of new blood vessels. Upon completion of its Phase I trial, GenSpera expects to initiate multiple Phase II trials for G-202 in several different cancer types. The company’s second drug, G-115, will directly target prostate cancer.
For more information, please visit the Company’s website: www.genspera.com.
Cautionary Statement Regarding Forward Looking Information
This news release may contain forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements in this press release regarding potential applications of GenSpera’s technologies constitute forward-looking statements that involve risks and uncertainties, including, without limitation, risks inherent in the development and commercialization of potential products, uncertainty of clinical trial results or regulatory approvals or clearances, need for future capital, dependence upon collaborators and maintenance of our intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements. Additional information on potential factors that could affect our results and other risks and uncertainties will be detailed from time to time in GenSpera’s periodic reports.
Company:
GenSpera, Inc.
Craig Dionne, Ph.D., CEO, 210-479-8112
or
Investors:
The Verrazano Group
Steve Chizzik, 908-688-9111
or
Media:
Planet Communications
Deanne Eagle, 917-837-5866
