SenesTech, Inc. (Nasdaq: SNES), a developer of proprietary technologies for managing animal pest populations through fertility control based in Flagstaff, Arizona began public trading on December 8, 2017. The initial public offering of 1,875,000 shares of common stock priced at $8.00 per share. In addition, SenesTech and certain selling stockholders have granted the underwriters a 30-day option to purchase up to 281,250 additional shares of common stock at the initial public offering price, less the underwriting discount.
The $15 Million capital raise supports commercialization of the company’s mission of managing animal populations humanely and effectively by targeting the key issue: reproduction
Founded by two scientists with a deep love for animals, SenesTech is a biotech platform and research company that has developed an innovative technology for managing animal populations by fertility control. SenesTech develops non-lethal treatments that have the potential to be more effective, more humane, and less invasive to the environment than traditional management methods.
Novel solutions to age-old problems
SenesTech’s first product applies their revolutionary technology to a worldwide problem that has persisted since the Middle Ages: the proliferation of rats in both urban and agricultural settings.The company’s innovative compound is readily consumed by rats and leaves them non-reproductive with no other observable side effects. The rodents live out their normal 8-12 month life span without producing offspring. Since rapid reproduction is the root cause of rat infestation, this introduces a new paradigm to the science of pest control.
When used as directed, SenesTech’s species-specific formulation is environmentally neutral, does not affect non-target animals, and has no impact on human health or fertility according to the company.
EPA registration and commercialization
On August 9, 2016, SenesTech, Inc. announced that it has received approval from the United States Environmental Protection Agency (EPA) for ContraPest®, SenesTech’s patent protected technology for managing rodent pest populations through reducing fertility.
SenesTech is currently gearing up for the process of EPA registration, after which it will be available for commercial sale. Meanwhile, recent tests ranging from the New York Subway, the neighborhoods of Metropolitan Boston, and the rice fields in Southeast Asia have yielded promising results. Once EPA registration is complete,the path to commercialization will be accelerated by strategic partnerships with our major manufacturer, and a leading pest control service provider who is actively seeking an alternative to traditional pest management methods.
The science behind SenesTech’s products is well established and shows early promise for the humane control of other pest species from deer to wild pigs. Long-term, there is potential for a SenesTech formulation to become a non-surgical solution for the spaying and neutering of feral cats and dogs.