Senti Biosciences Inc

Senti Biosciences Holdings announced a strategic transaction to spin off its gene-circuit-enabled pipeline, including the clinical asset SENTI-202, into a new privately held company controlled by affiliates of Celadon, its largest investor. The deal provides Senti Biosciences Holdings equity holders with a contingent value right offering up to $60 million in milestone payments over seven years tied to SENTI-202's development and commercialization. The milestones include $10 million upon filing and acceptance of a Biologics License Application, $20 million upon FDA approval, and $30 million upon achieving $200 million in cumulative net sales. Following the close, Senti Biosciences Holdings will sharpen its focus on next-generation controllable genetic medicines powered by its Regulator Dial platform, including programs for Rett syndrome and armored tumor-infiltrating lymphocytes for solid tumors. The transaction has been approved by the board and remains subject to stockholder approval and other customary closing conditions.