Senesco Technologies Enters Into Agreements For Additional $700,000 In Financing

NEW BRUNSWICK, N.J., July 30 /PRNewswire-FirstCall/ -- Senesco Technologies,
Inc. ("Senesco" or the "Company") (NYSE Amex: SNT) today announced that, on
July 29, 2009, the Company entered into definitive purchase agreements with
certain members of Senesco's Board of Directors and certain accredited
investors, including Cato Holding Company, which is the venture capital
affiliate of Cato Research Ltd., a global contract research and development
organization currently assisting Senesco with its SNS-101 development program
with the emphasis on initiating a Phase I clinical trial for multiple myeloma.

Pursuant to the respective purchase agreements, Senesco will issue and sell
(i) up to 783,332 shares of its common stock (the "Shares") at a price of
$0.90 per share, (ii) warrants to purchase an aggregate of up to 705,000
shares of common stock, which warrants are exercisable immediately at an
exercise price of $0.01 per share (the "Series A Warrants") and (iii) warrants
to purchase an aggregate of up to 714,794 shares of common stock, which
warrants are exercisable 6 months from the date of issuance at an exercise
price of $0.60 per share (the "Series B Warrants"). In connection with the
private placement, the Company anticipates that it will receive aggregate
proceeds, excluding costs and expenses, in the amount of $530,000. In
addition, Cato Holding Company has agreed to cancel $175,000 of the Company's
indebtedness to Cato Research, Ltd., bringing the proceeds of the offering,
excluding costs and expenses, to approximately $705,000.

The closing of the foregoing transactions is contingent upon Senesco receiving
stockholder approval for certain aspects of the transactions as well as other
customary closing conditions. There are no registration rights associated
with the securities to be issued and sold in the private placement and no
placement agent was used in connection with the private placement.

Senesco primarily intends to utilize the net proceeds of these transactions to
further advance its multiple myeloma research and development program with the
goal of initiating a Phase I clinical trial.

"We are excited by the potential of SNS-101 as a novel treatment alternative
for multiple myeloma," said Allen Cato, MD, PhD, CEO of Cato Research. "Our
recent investment reflects our confidence in the Company's regulatory and
development plans. We look forward to significant progress in the months
ahead."

"We are gratified by the confidence expressed in us by our CRO, the Board
members and accredited investors involved in this transaction," commented Joel
Brooks, Chief Financial Officer. "This funding, along with the $1 million in
financing secured several weeks ago, enables us to continue moving forward
efficiently with our goal of filing an Investigational New Drug Application
and initiating a Phase I clinical trial for SNS-01."

Important Information

This press release shall not constitute an offer to sell or the solicitation
of an offer to buy, nor shall there be any sale of these securities in any
state in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state.
The shares of common stock have been sold pursuant to an exemption from state
and federal securities laws.

In connection with the private placement, the Company will prepare a proxy
statement for the Company's stockholders to be filed with the Securities and
Exchange Commission (the "SEC"). The proxy statement will contain information
about the Company, the private placement and related matters. STOCKHOLDERS
ARE URGED TO READ THE PROXY STATEMENT CAREFULLY WHEN IT IS AVAILABLE, AS IT
WILL CONTAIN IMPORTANT INFORMATION THAT STOCKHOLDERS SHOULD CONSIDER BEFORE
MAKING A DECISION ABOUT APPROVING AN AMENDMENT TO THE COMPANY'S CERTIFICATE OF
INCORPORATION TO INCREASE THE NUMBER OF AUTHORIZED SHARES.

In addition to receiving the proxy statement from the Company by mail,
shareholders will be able to obtain the proxy statement, as well as other
filings containing information about the Company, without charge, from the
SEC's website (http://www.sec.gov) or, without charge, from the Company's
website at www.senesco.com or by directing such request to Senesco
Technologies, Inc. 303 George St., Suite 420, New Brunswick, New Jersey 08901
Attention: Joel Brooks.

The Company and its directors and executive officers and other members of
management and employees may be deemed to be participants in the solicitation
of proxies. Information concerning the Company and its directors and
executive officers is set forth in the Company's proxy statement and Annual
Report on Form 10-K previously filed with the SEC.

About Senesco Technologies, Inc.

Senesco Technologies, Inc. is a U.S. biotechnology company, headquartered in
New Brunswick, NJ. Senesco has initiated preclinical research to trigger or
delay cell death in mammals (apoptosis) to determine if the technology is
applicable in human medicine. Accelerating apoptosis may have applications to
development of cancer treatments. Delaying apoptosis may have applications to
certain inflammatory and ischemic diseases. Senesco takes its name from the
scientific term for the aging of plant cells: senescence. Delaying cell
breakdown in plants extends freshness after harvesting, while increasing crop
yields, plant size and resistance to environmental stress. The Company
believes that its technology can be used to develop superior strains of crops
without any modification other than delaying natural plant senescence.
Senesco has partnered with leading-edge companies engaged in agricultural
biotechnology and earns research and development fees for applying its
gene-regulating platform technology to enhance its partners' products.

Certain statements included in this press release are forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995. Actual results could differ materially from such statements
expressed or implied herein as a result of a variety of factors, including,
but not limited to: the Company's ability to consummate this financing as well
as additional financings; the development of the Company's gene technology;
the approval of the Company's patent applications; the successful
implementation of the Company's research and development programs and joint
ventures; the success of the Company's license agreements; the acceptance by
the market of the Company's products; success of the Company's preliminary
studies and preclinical research; competition and the timing of projects and
trends in future operating performance, as well as other factors expressed
from time to time in the Company's periodic filings with the SEC. As a result,
this press release should be read in conjunction with the Company's periodic
filings with the SEC. The forward-looking statements contained herein are
made only as of the date of this press release, and the Company undertakes no
obligation to publicly update such forward-looking statements to reflect
subsequent events or circumstances.
Company Contact: Investor Relations Contact:
Senesco Technologies, Inc. FD
Joel Brooks Brian Ritchie
Chief Financial Officer brian.ritchie@fd.com
jbrooks@senesco.com (212) 850-5600
(732) 296-8400

Media Relations Contact:
FD
Irma Gomez-Dib
irma.gomez-dib@fd.com
(212) 850-5600

SOURCE Senesco Technologies, Inc.

Joel Brooks, Chief Financial Officer, Senesco Technologies, Inc., (732)
296-8400, jbrooks@senesco.com, or Investors, Brian Ritchie of FD,
+1-212-850-5600, brian.ritchie@fd.com, or Media, Irma Gomez-Dib of FD,
+1-212-850-5600, irma.gomez-dib@fd.com