Senti Biosciences, Inc. (SNTI), a clinical-stage biotechnology company, on Monday announced an additional $11.5 million in funding, including a $10 million investment from Celadon Partners as part of a private placement equity financing and $1.5 million from its previously announced $8 million grant from the California Institute for Regenerative Medicine or CIRM.
This brings the total raised in the financing round to $47.6 million and extends the company's cash runway into 2026.
The funds will be used to support the continued development of Senti Bio's lead program, SENTI-202, a cell and gene therapy for hematologic cancers, including ramping up manufacturing and other research and development activities.
SENTI-202 has shown promising results in clinical trials, with complete remissions reported in 2 out of 3 patients in initial clinical data.
The company's Gene Circuit platform, designed to create therapies with enhanced precision and control, is central to its pipeline, which also includes off-the-shelf CAR-NK cells targeting solid and liquid tumors.
Senti Bio is advancing its capabilities through strategic partnerships with Roche/Spark Therapeutics and Bayer/BlueRock Therapeutics.
The PIPE financing round, which includes participation from New Enterprise Associates or NEA, Leaps by Bayer, Nantahala Capital, and The Red Hook Fund LP, was led by Celadon Partners, with Leerink Partners acting as placement agent.
Cash position:
As of September 30, 2024, Senti Bio held cash and cash equivalents of $10.5 million.
Currently, SNTI is trading at $4.44 up by 3.37%.
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