Sensei Biotherapeutics has announced a significant strategic move, acquiring Faeth Therapeutics in an all-stock deal and securing $200 million in a concurrent private placement. This dual action aims to bolster Sensei’s oncology pipeline, particularly with Faeth’s lead candidate, PIKTOR, and provides a much-needed financial infusion to navigate future clinical development.
Just months after facing potential wind-down and significant layoffs, Sensei Biotherapeutics has found a new path forward through its merger with Faeth Therapeutics. The acquisition brings Faeth’s promising drug candidate, PIKTOR, into Sensei’s portfolio. PIKTOR is an oral combination of two investigational PI3K/AKT/mTOR pathway inhibitors, serabelisib and sapanisertib, designed to overcome the limitations of single-node inhibitors by offering improved efficacy and tolerability.
The $200 million private placement, which saw participation from prominent life sciences investors, is crucial for funding the advancement of PIKTOR. The funds will support a Phase 2 study of PIKTOR in second-line advanced endometrial cancer and a Phase 1b trial in HR+/HER2- advanced breast cancer. Both studies are anticipated to yield results before the end of the year. A portion of the funds will also be used to complete Sensei’s ongoing Phase 1/2 study of its own drug, solnerstotug.
The transaction significantly reshapes the ownership structure of Sensei. Following the merger and financing, former Faeth equity holders and new investors from the private placement will collectively hold the majority of the combined company’s common stock. Anand Parikh, co-founder of Faeth, has been appointed as the new Chief Operating Officer of Sensei, signaling a new leadership direction aimed at driving the company’s oncology strategy forward.