Genenta Science landed on Nasdaq on Wednesday, December 15. The scaleup active in research for the treatment of cancer is the first Italian company to list on the American technology list. Genenta Science was founded in 2014, founded by Pierluigi Paracchi (CEO) with Luigi Naldini, director of the Division of Regenerative Medicine, Stem Cells and Gene Therapy at San Raffele Hospital in Milan, and Bernhard Gentner, a hematologist and medical researcher also at San Raffaele.

The project is a cure for tumors with a particular technology that makes use of stem cells, infiltrated through a "good" vector derived from the HIV virus, which can penetrate the diseased tissues stimulating the production of a specific anti-tumor protein. The listing on Nasdaq comes after the collection of 10 million raised patiently by private investors, which include big names of the Italian "entrepreneurial aristocracy": a beautiful story of which Italy can be proud.

The biotech company, born immediately as an ambitious international project based on the quality of Italian research and supported by the most prestigious family offices of the country, announced the numbers of the IPO: 2.4 million American Depositary Shares, or ADS, each of which represents one ordinary share, at a public offering price of $11.50 per share. Genenta also sold 720,114 shares of common stock reserved for subscription by its existing shareholders, also at a price of $11.50 per share. The first day on the stock exchange closed with a slight decline, as the stock traded at $11.

Gross proceeds from the offering, including common stock, are expected to be approximately $36 million less commissions and offering expenses. In addition, Genenta has granted the underwriters an option for a period of 30 days from the date of the final prospectus to purchase an additional 360,000 ADSs, which, if exercised, will bring the gross proceeds of the offering to approximately $40 million.