Feb 10 2010
Genta Incorporated (OTCBB: GETA) announced that it has received $2.8
million in non-dilutive cash proceeds from the sale of net operating tax
losses and research tax credits generated in prior tax years as part of
the Technology Business Tax Certificate Program sponsored by the New
Jersey Economic Development Authority (NJEDA), pursuant to the rules,
regulations and stipulations set forth by the program. This program,
which focuses on biotechnology and other research-based companies, is
designed to attract and retain knowledge-intensive businesses that will
enhance the State’s strategic and competitive interests in these areas.
Genta also announced that the Company’s request for designation as a
Small-to-Medium Sized Enterprise (SME) had been granted by the European
Medicines Agency (EMEA). SME status provides certain financial and
administrative assistance to small businesses as they advance their
regulatory filings and submissions through the EMEA.
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