Senti Biosciences Announces New Employment Inducement Grants
Senti Biosciences, Inc. (Nasdaq: SNTI) announced the grant of stock options to 13 new employees, totaling 309,000 shares at an exercise price of $1.81, effective February 1, 2023. This action aligns with NASDAQ Listing Rule 5635(c)(4) and the 2022 Inducement Equity Plan. Senti Bio aims to innovate cell and gene therapies using its proprietary Gene Circuit technology, targeting complex diseases. Its lead candidate, SENTI-202, focuses on hematologic malignancies, while SENTI-401 addresses colorectal cancer and other CEA-positive cancers. The company has partnerships with Spark Therapeutics and BlueRock Therapeutics to enhance its capabilities.
- Granting stock options supports employee retention and incentivizes new hires.
- Senti Bio's innovative Gene Circuit technology could enhance therapeutic effectiveness in complex diseases.
- Partnerships with Spark Therapeutics and BlueRock Therapeutics may expand development capabilities.
- Stock options could dilute existing shares if exercised.
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SOUTH SAN FRANCISCO, Calif., Feb. 03, 2023 (GLOBE NEWSWIRE) -- Senti Biosciences, Inc. (Nasdaq: SNTI) (“Senti Bio”), a biotechnology company innovating next-generation cell and gene therapies using its proprietary Gene Circuit technology platform, today announced that effective on February 1, 2023, the Compensation Committee of Senti Bio’s Board of Directors granted to 13 new employees stock options to purchase an aggregate of 309,000 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 novel and proprietary Gene Circuits 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 product candidate is SENTI-202 for the treatment of CD33 and/or FLT3 expressing hematologic malignancies, such as AML and MDS. Additionally, our SENTI-401 program is being designed for the treatment of colorectal cancer (CRC) and other CEA-positive cancers. We have also demonstrated in preclinical studies the potential breadth of our Gene Circuits in other modalities, including T cells, AAVs and iPSCs, and diseases outside of oncology; and we have executed partnerships with Spark Therapeutics and BlueRock Therapeutics to advance these capabilities.
Contact Senti Bio:
Deb Knobelman, PhD, CFO
investors@sentibio.com
Media:
Kelli Perkins
kelli@redhousecomms.com
Find more information at sentibio.com
Follow us on Linkedin: Senti Biosciences
FAQ
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