Senesco Technologies, Inc. announced today that its Board of Directors has approved a significantly expanded research and development program.

In a meeting last week, Senesco's Board agreed that an increase in the budget and scope of research and development will be necessary to ensure the Company's future growth and leadership position in the field of delayed senescence (plant aging).

The initiative will direct Senesco to identify new and proprietary genes which have a role in the senescence cascade. This will include genes that affect the aging process of fruits, vegetables, flowers, and crops. In July 1998, the Company filed a patent application on its proprietary "lipase'' gene technology which plays a critical role in the aging of plants.

Dr. John E. Thompson, the Company's President and Chief Executive Officer stated, "In addition to our patent application regarding the Company's lipase gene technology, the Company filed a patent application on our new DHS gene technology in July 1999, which also has a substantial role in regulating the senescence process.'' The Company  plans on filing an additional patent application on a third gene in the near future. "It is our expectation that these two new genes will prove to be as important as the lipase gene in controlling the aging of plants because they act so early in the aging process,'' said Dr. Thompson.

Senesco is an agrobiotechnology company developing technology to prolong shelf life in produce. The Company is based in Princeton, New Jersey.

Company news release
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