Senti Bio Announces New Employment Inducement Grants
Senti Biosciences (SNTI) announced the granting of stock options for 200,200 shares to nine new employees, priced at $2.39 per share. This decision, finalized on October 27, 2022, was made in accordance with NASDAQ rules and as part of the newly adopted 2022 Inducement Equity Plan. The company is focused on developing advanced cell and gene therapies using its proprietary Gene Circuit platform to enhance treatment for various complex diseases, particularly in oncology.
- Granting of stock options could help attract and retain talent.
- The Gene Circuit platform has potential to enhance therapeutic effectiveness.
- Stock options granted at a low price may dilute existing shareholders.
- Company still in development phase with no guaranteed market release.
SOUTH SAN FRANCISCO, Calif., Oct. 28, 2022 (GLOBE NEWSWIRE) -- Senti Biosciences, Inc. (Nasdaq: SNTI) (“Senti Bio”), a biotechnology company innovating next-generation cell and gene therapies using its proprietary gene circuit platform, today announced that on October 27, 2022, the compensation committee of Senti Bio’s board of directors granted to 9 new employees stock options to purchase an aggregate of 200,200 shares of the Company’s common stock with a per share exercise price of
The above-described awards were each granted as an inducement material to the employees entering into employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4), and were granted pursuant to the terms of the Plan. The Plan was adopted by the Company’s board of directors on August 5, 2022.
About Senti Bio
Our mission is to create a new generation of smarter medicines that outmaneuver complex diseases using novel and unprecedented approaches. To accomplish this, we are building a synthetic biology platform that may enable us to program next-generation cell and gene therapies with what we refer to as Gene Circuits. These Gene Circuits, which are created from novel and proprietary combinations of DNA sequences, are designed to reprogram cells with biological logic to sense inputs, compute decisions and respond to their cellular environments. We aim to design Gene Circuits to improve the intelligence of cell and gene therapies in order to enhance their therapeutic effectiveness, precision, and durability against a broad range of diseases that conventional medicines do not readily address.
Our synthetic biology platform utilizes off-the-shelf chimeric antigen receptor natural killer (CAR-NK) cells, outfitted with Gene Circuit technologies, to target particularly challenging liquid and solid tumor oncology indications. Our lead development candidate is SENTI-202 for the treatment of acute myeloid leukemia (AML). Additional CAR-NK products include SENTI-301 for the treatment of hepatocellular carcinoma (HCC) and SENTI-401 for the treatment of CEACAM5-expressing solid tumors, including colorectal cancer (CRC). We have also demonstrated the breadth of our Gene Circuits in other modalities and diseases outside of oncology and have executed partnerships with Spark Therapeutics and BlueRock Therapeutics to advance these capabilities.
Find more information at sentibio.com
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