SENTI-301

– First patient dosing of SENTI-202, a first-in-class logic-gated treatment for acute myeloid leukemia (“AML”), on track for the second quarter of 2024 – SOUTH SAN FRANCISCO, Calif., May 09, 2024 (GLOBE NEWSWIRE) -- Senti Biosciences, Inc. (Nasdaq: SNTI) (“Senti Bio” or the “Company”), a biotechnology company developing next-generation cell and gene therapies using its proprietary Gene Circuit platform, today reported operational updates and financial results for the first quarter of 2024. “Over the past quarter, we have continued to execute on our research and clinical development milestones. We are on track to begin dosing patients in our Phase 1 clinical trial of SENTI-202 in AML and our pilot trial of SENTI-301A in hepatocellular carcinoma (“HCC") in China through our partnership with Celest,” said Timothy Lu, MD, PhD, Chief Executive Officer and Co-Founder of Senti Bio. “This important progress positions us to further advance our partnered and wholly-owned programs. Looking ahead, we remain committed to leveraging the power of synthetic biology to drive transformative changes in medicine across a wide range of unmet clinical needs.” PIPELINE HIGHLIGHTS SENTI-202 for AML: The Phase 1 clinical trial of SENTI-202 (NCT06325748), a first-in-class, off-the-shelf Logic Gated CAR-NK investigational cell therapy for the treatment of AML, will focus on relapsed/refractory AML patients in the U.S. and Australia. The Company is on track to initiate patient dosing in the second quarter of 2024, with initial efficacy data anticipated by year-end 2024, and initial durability data in 2025. SENTI-202 Preclinical Data Published in Peer-Reviewed Journal: In April 2024, Senti Bio announced the publication of preclinical data demonstrating the ability of natural killer (“NK”) cells engineered with multi-input Gene Circuits to selectively target and eliminate leukemic cells, including both blasts and leukemic stem cells, while sparing healthy stem cells. The publication, titled “Precision off-the-shelf natural killer cell therapies for oncology with logic-gated gene circuits,” highlights the activity of logic-gated NK cells in in vitro and in vivo preclinical studies, and supports the design of the Phase 1 clinical trial of SENTI-202. SENTI-301A for HCC: In November 2023, Senti Bio announced a strategic collaboration agreement with Celest Therapeutics (Shanghai) Co. Ltd (“Celest”), a China-based biotechnology company, for the clinical development of SENTI-301A to treat solid tumors in China. Celest plans to enroll patients initially through a pilot trial in mainland China and expects to dose the first patient in the second quarter of 2024. SENTI-301A is a calibrated release (“cr”) IL-15 multi-armed off-the-shelf investigational CAR-NK cell therapy designed for the treatment of GPC3-expressing tumors, including HCC, the most common type of primary liver cancer. PLATFORM HIGHLIGHTS Three Presentations at ASGCT 2024 Annual Meeting The Company is presenting on several platform and technology advancements at the American Society of Gene and Cell Therapy (ASGCT) Annual Meeting being held May 7-11, 2024, in Baltimore, MD. The oral presentation describes the discovery of novel CARs for solid tumors using Senti’s high-throughput REVEAL™ platform. Two poster presentations, in collaboration with BlueRock Therapeutics and GeneFab LLC, highlight continued progress in control over macrophage polarization and IMiD-regulated therapeutic payload expression. Details are as follows: Oral Presentation: Discovery of Novel CARs for Solid Tumors Using Senti REVEAL™, a Massively Parallel Technology Platform Comprising Pooled Screening, Machine Learning, and Lab AutomationAbstract Number: 330Date and Time: May 10, 2024, 5:15 p.m. ET Poster Presentation: Iterative Engineering of Polarization-State Responsive Synthetic Promoters for Autonomous Control of Macrophage Polarization LogicIn collaboration with BlueRock Therapeutics and GeneFab, LLCAbstract Number: 1799Date and Time: May 10, 2024, 12:00 pm - 7:00 pm ET Poster Presentation: Engineered IMiD Regulated Synthetic Transcriptional Switch for Controlled and Dose-Responsive Expression of Therapeutic Payload within FDA-Approved Drug DosesIn collaboration with BlueRock Therapeutics and GeneFab, LLCAbstract Number: 1285Date and Time: May 9, 2024, 12:00 pm - 7:00 pm ET Following the presentations, copies of materials will be available on the Scientific Presentations & Publications section of the Company’s website. FIRST QUARTER 2024 FINANCIAL RESULTS Cash and Cash Equivalents: As of March 31, 2024, Senti Bio held cash and cash equivalents of $23.7 million. The Company also holds $18.9 million in receivables anticipated from the GeneFab transaction upon satisfaction of certain conditions.R&D Expenses: Research and development expenses were $8.8 million for the quarter ended March 31, 2024, compared to $7.1 million for the same period in 2023. The increase was primarily related to manufacturing costs to support development of Senti Bio’s wholly-owned programs.G&A Expenses: General and administrative expenses were $7.5 million for the quarter ended March 31, 2024, compared to $9.2 million for the same period in 2023. The decrease was mainly attributed to a reduction in headcount from the reduction in force in early January 2024.Net Loss: Net loss was $12.1 million, or $0.26 per basic and diluted share, for the quarter ended March 31, 2024. UPCOMING EVENTS Senti Bio plans to participate in the following upcoming biotechnology conference: BIO International Convention 2024June 3-6 – San Diego, CA About Senti BioSenti Bio is a biotechnology company developing a new generation of cell and gene therapies for patients living with incurable diseases. To achieve this, Senti Bio is leveraging a synthetic biology platform called Gene Circuits to create therapies with enhanced precision and control. These Gene Circuits are designed to precisely kill cancer cells, spare healthy cells, increase specificity to target cells and control the expression of drugs even after administration. The Company’s wholly-owned pipeline utilizes off-the-shelf chimeric antigen receptor natural killer (CAR-NK) cells, outfitted with Gene Circuits, to target challenging liquid and solid tumor indications. Senti Bio has also preclinically demonstrated the potential breadth Gene Circuits in other modalities, diseases outside of oncology, and continues to advance these capabilities through partnerships with Spark Therapeutics and BlueRock Therapeutics. Forward-Looking StatementsThis press release and document contain certain statements that are not historical facts and are considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally are identified by the words “believe,” “could,” “predict,” “continue,” “ongoing,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” “forecast,” “seek,” “target” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements are predictions, projections, and other statements about future events that are based on current expectations of Senti Bio’s management and assumptions, whether or not identified in this document, and, as a result, are subject to risks and uncertainties. Forward-looking statements include, but are not limited to, Senti Bio’s anticipated receivables under its agreements with GeneFab; expectations regarding its growth, strategy, progress and timing of its clinical trials, including the anticipated dosing of patients and availability of data, and the timing thereof; the ability to initiate new clinical programs; as well as statements about the potential attributes and benefits of Senti Bio’s platform technology and the progress and continuation of its collaborations with Celest, Spark Therapeutics and BlueRock Therapeutics and other collaboration and strategic partners. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Senti Bio. Many factors could cause actual future results to differ materially from the forward-looking statements in this document, including but not limited to: (i) changes in domestic and foreign business, market, financial, political and legal conditions, (ii) changes in the competitive and highly regulated industries in which Senti Bio operates, variations in operating performance across competitors, changes in laws and regulations affecting Senti Bio’s business, (iii) the ability to implement business plans, forecasts and other expectations, (iv) the risk of downturns and a changing regulatory landscape in Senti Bio’s highly competitive industry, (v) risks relating to the uncertainty of any projected financial information with respect to Senti Bio, (vi) risks related to uncertainty in the timing or results of Senti Bio’s clinical trial start up, clinical studies, patient enrollment, and GMP manufacturing startup activities, (vii) Senti Bio’s dependence on third parties in connection with clinical trial startup, clinical studies, and GMP manufacturing activities, (viii) risks related to delays and other impacts from macroeconomic and geopolitical events, increasing rates of inflation and rising interest rates on business operations, and (ix) the success of any future research and development efforts by Senti Bio. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Senti Bio’s Annual Report on Form 10-K, filed with the SEC on March 21, 2024, and other documents filed by Senti Bio from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements in this document. There may be additional risks that Senti Bio does not presently know, or that Senti Bio currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements in this document. Forward-looking statements speak only as of the date they are made. Senti Bio anticipates that subsequent events and developments may cause Senti Bio’s assessments to change. Except as required by law, Senti Bio assumes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise. Availability of Other Information About Senti Biosciences, Inc.For more information, please visit the Senti Bio website at https://www.sentibio.com or follow Senti Bio on Twitter (@SentiBio) and LinkedIn (Senti Biosciences). Investors and others should note that we communicate with our investors and the public using our company website (www.sentibio.com), including, but not limited to, company disclosures, investor presentations and FAQs, Securities and Exchange Commission filings, press releases, public conference call transcripts and webcast transcripts, as well as on Twitter and LinkedIn. The information that we post on our website or on Twitter or LinkedIn could be deemed to be material information. As a result, we encourage investors, the media and others interested to review the information that we post there on a regular basis. The contents of our website or social media shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended. Senti Biosciences, Inc.Unaudited Selected Consolidated Balance Sheet Data(in thousands) March 31, December 31, 2024 2023 Cash and cash equivalents $23,723 $35,926GeneFab receivable – related party 17,847 17,592GeneFab prepaid expenses – related party 11,300 14,787Restricted cash 4,028 3,522Property and equipment, net 24,354 25,338Operating lease right-of-use assets 15,797 16,274Total assets 102,185 119,484Total liabilities 46,091 52,571Total stockholders’ equity 56,094 66,913 Senti Biosciences, Inc.Unaudited Consolidated Statements of Operations(in thousands, except share and per share data) Three Months Ended March 31, 2024 2023 Total revenue $— $1,286 Operating expenses: Research and development (included related party cost of $3,632 and $ -, respectively) 8,779 7,059 General and administrative 7,522 9,191 Total operating expenses 16,301 16,250 Loss from operations (16,301) (14,964)Total other income, net 4,190 1,112 Net loss from continuing operations (12,111) (13,852)Net loss from discontinued operations — (4,870)Net loss (12,111) (18,722)Other comprehensive gain — 2 Comprehensive loss $(12,111) $(18,720) Net loss per share from continuing operations, basic and diluted $(0.26) $(0.31)Net loss per share from discontinued operations, basic and diluted — (0.11)Net loss per share, basic and diluted $(0.26) $(0.42)Weighted-average shares outstanding, basic and diluted 45,708,601 44,070,974 Senti Bio Contacts Investors: investors@sentibio.com Media: media@sentibio.com

– IND for SENTI-202, a potential first-in-class logic-gated treatment for AML, cleared by the U.S. FDA; First patient dosing anticipated in the second quarter of 2024 – – Cash and anticipated receivables from GeneFab transaction expected to fund operations into the first quarter of 2025 – SOUTH SAN FRANCISCO, Calif., March 21, 2024 (GLOBE NEWSWIRE) -- Senti Biosciences, Inc. (Nasdaq: SNTI) (“Senti Bio” or the “Company”), a biotechnology company developing next-generation cell and gene therapies using its proprietary Gene Circuit platform, today reported financial results for the fourth quarter and full year ended December 31, 2023. “In 2023, we achieved several critical milestones including clearing our first Investigational New Drug application (“IND”) for SENTI-202, entering into a strategic collaboration agreement with Celest Therapeutics for the clinical development of SENTI-301A to treat solid tumors in China, and establishing a manufacturing partnership with GeneFab that will support the manufacturing of our oncology programs,” said Timothy Lu, MD, PhD, Chief Executive Officer and Co-Founder of Senti Bio. “We also made strategic decisions to focus our resources on advancing SENTI-202 in the U.S. and SENTI-301A in China through our partnership with Celest, with the goal of bringing new treatments to patients.” Dr. Lu continued, “We will continue to advance our pipeline programs to demonstrate the potential of Gene Circuits including the clinical-scale manufacturing of chimeric antigen receptor natural killer (“CAR-NK”) cells. Additionally, we are continuing our efforts to develop next-generation cell and gene therapies in areas outside of oncology through our collaborations with Spark Therapeutics and BlueRock Therapeutics.” CORPORATE UPDATES Prioritization of clinical programs: In January 2024, Senti Bio announced plans to streamline its business operations and prioritize the clinical development of SENTI-202, a potential first-in-class, off-the-shelf Logic Gated CAR-NK investigational cell therapy for the treatment of acute myeloid leukemia (“AML”). Additionally, the Company will continue to support the clinical development activities of SENTI-301A for the treatment of advanced glypican 3 (“GPC3”)-expressing hepatocellular carcinoma (“HCC”) in China through its partnership with Celest Therapeutics (Shanghai) Co. Ltd (“Celest”). Strategic steps included the scaling back of all other research and development initiatives while continuing to support ongoing partnerships with Spark Therapeutics and BlueRock Therapeutics. The Company expects that these resource allocation efforts, combined with other expected receivables, will extend its cash runway into the first quarter of 2025. PIPELINE HIGHLIGHTS SENTI-202 for AML: In December 2023, Senti Bio announced the IND application for SENTI-202 was cleared by the U.S. Food and Drug Administration (“FDA”). The Phase 1 clinical trial will focus on relapsed/refractory AML patients in the U.S. and Australia. The Company anticipates the following from the Phase 1 clinical trial: First patient dosed in the second quarter of 2024 Initial efficacy data by year-end 2024 Initial durability data in 2025 SENTI-301A for HCC: In November 2023, Senti Bio announced a strategic collaboration agreement with Celest, a China-based biotechnology company, for the clinical development of SENTI-301A to treat solid tumors in China. Celest plans to enroll patients initially through a pilot trial in mainland China and expects to dose the first patient in the second quarter of 2024. SENTI-301A is a calibrated release (cr) IL-15 multi-armed off-the-shelf CAR-NK cell therapy designed for the treatment of GPC3-expressing tumors, including HCC, the most common type of primary liver cancer. Fourth Quarter and Full Year 2023 Financial Results Cash, Cash Equivalents and Short-term Investments: As of December 31, 2023, Senti Bio held cash, cash equivalents and short-term investments of $35.9 million. Cash, combined with the $18.9 million receivable from GeneFab, which is payable upon satisfaction of certain conditions, are expected to fund operations into the first quarter of 2025. R&D Expenses: Research & development expenses were $9.1 million for the quarter ended December 31, 2023, compared to $7.0 million for the same period in 2022. Research and development expenses for the year ended December 31, 2023, were $32.2 million, compared to $28.1 million in 2022. G&A Expenses: General and administrative expenses were $9.3 million for the fourth quarter of 2023, compared to $9.8 million for the same period in 2022. General and administrative expenses for the year ended December 31, 2023, were $37.2 million, compared to $38.2 million in 2022. Net Loss: Net loss was $18.7 million, or $0.42 per basic and diluted share, for the quarter ended December 31, 2023. Net loss for the year ended December 31, 2023, was $71.1 million, or $1.60 per share, compared to a net loss of $58.2 million, or $2.23 per share, in 2022. Net loss for the year ended December 31, 2023 included a non-recurring $12.3 million gain from discontinued operations, as well as a non-recurring $25.7 million impairment for leasehold improvements, both related to the GeneFab transaction. About Senti Bio Senti Biosciences is a biotechnology company developing a new generation of cell and gene therapies for patients living with incurable diseases. To achieve this, Senti Bio is leveraging a synthetic biology platform called Gene Circuits to create therapies with enhanced precision and control. These Gene Circuits are designed to precisely kill cancer cells, spare healthy cells, increase specificity to target cells and control the expression of drugs even after administration. The Company’s wholly-owned pipeline utilizes off-the-shelf chimeric antigen receptor natural killer (CAR-NK) cells, outfitted with Gene Circuits, to target challenging liquid and solid tumor indications. Senti Bio has also preclinically demonstrated the potential breadth Gene Circuits in other modalities, diseases outside of oncology, and continues to advance these capabilities through partnerships with Spark Therapeutics and BlueRock Therapeutics. Forward-Looking Statements This press release and document contain certain statements that are not historical facts and are considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally are identified by the words “believe,” “could,” “predict,” “continue,” “ongoing,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” “forecast,” “seek,” “target” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements are predictions, projections, and other statements about future events that are based on current expectations of Senti Bio’s management and assumptions, whether or not identified in this document, and, as a result, are subject to risks and uncertainties. Forward-looking statements include, but are not limited to, Senti Bio’s expected cash runway into the first quarter of 2025; its anticipated receivables under its agreements with GeneFab; expectations regarding its growth, strategy, progress and timing of its clinical trials, including the anticipated dosing of patients and availability of data, and the timing thereof; the ability to initiate new clinical programs; the extent, timing and financial aspects of the reduction in workforce; as well as statements about the potential attributes and benefits of Senti Bio’s platform technology and the continuation of its collaborations with Spark Therapeutics and BlueRock Therapeutics and other collaboration and strategic partners. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Senti Bio. Many factors could cause actual future results to differ materially from the forward-looking statements in this document, including but not limited to: (i) changes in domestic and foreign business, market, financial, political and legal conditions, (ii) changes in the competitive and highly regulated industries in which Senti Bio operates, variations in operating performance across competitors, changes in laws and regulations affecting Senti Bio’s business, (iii) the ability to implement business plans, forecasts and other expectations, (iv) the risk of downturns and a changing regulatory landscape in Senti Bio’s highly competitive industry, (v) risks relating to the uncertainty of any projected financial information with respect to Senti Bio, (vi) risks related to uncertainty in the timing or results of Senti Bio’s clinical trial start up, clinical studies, patient enrollment, and GMP manufacturing startup activities, (vii) Senti Bio’s dependence on third parties in connection with clinical trial startup, clinical studies, and GMP manufacturing activities, (viii) risks related to delays and other impacts from macroeconomic and geopolitical events, increasing rates of inflation and rising interest rates on business operations, and (ix) the success of any future research and development efforts by Senti Bio. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Senti Bio’s Quarterly Report on Form 10-Q, filed with the SEC on November 14, 2023, and other documents filed by Senti Bio from time to time with the SEC, and other documents filed by Senti Bio from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements in this document. There may be additional risks that Senti Bio does not presently know, or that Senti Bio currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements in this document. Forward-looking statements speak only as of the date they are made. Senti Bio anticipates that subsequent events and developments may cause Senti Bio’s assessments to change. Except as required by law, Senti Bio assumes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise. Availability of Other Information About Senti Biosciences, Inc. For more information, please visit the Senti Bio website at or follow Senti Bio on Twitter (@SentiBio) and LinkedIn (Senti Biosciences). Investors and others should note that we communicate with our investors and the public using our company website ( ), including, but not limited to, company disclosures, investor presentations and FAQs, Securities and Exchange Commission filings, press releases, public conference call transcripts and webcast transcripts, as well as on Twitter and LinkedIn. The information that we post on our website or on Twitter or LinkedIn could be deemed to be material information. As a result, we encourage investors, the media and others interested to review the information that we post there on a regular basis. The contents of our website or social media shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended. Senti Bio Contacts Investors: investors@sentibio.com Media: media@sentibio.com Senti Biosciences, Inc. Unaudited Selected Consolidated Balance Sheet Data (in thousands) December 31, December 31, 2023 2022 Cash and cash equivalents $ 35,926 $ 57,621 Short-term investments — 40,942 GeneFab receivable – related party 17,592 — GeneFab prepaid expenses – related party 14,787 — Restricted cash 3,522 3,366 Property and equipment, net 25,338 51,361 Operating lease right-of-use assets 16,274 18,418 Total assets 119,484 180,792 Total liabilities 52,571 53,529 Total stockholders’ equity (deficit) 66,913 127,263 Senti Biosciences, Inc. Unaudited Consolidated Statements of Operations (in thousands, except share and per share data) Three Months Ended December 31, Year Ended December 31, 2023 2022 2023 2022 Total revenue $ — $ 59 $ 2,561 $ 4,286 Operating expenses: Research and development 9,122 7,037 32,150 28,145 General and administrative 9,305 9,816 37,176 38,225 Impairment of long-lived assets 271 — 25,962 — Total operating expenses 18,698 16,853 95,288 66,370 Loss from operations (18,698 ) (16,794 ) (92,727 ) (62,084 ) Total other income (expense), net 10 1,806 9,321 12,419 Net loss from continuing operations (18,688 ) (14,988 ) (83,406 ) (49,665 ) Net income (loss) from discontinued operations (28 ) (3,222 ) 12,348 (8,545 ) Net loss (18,716 ) (18,210 ) (71,058 ) (58,210 ) Other comprehensive gain (loss) — 1 (1 ) 1 Comprehensive loss $ (18,716 ) $ (18,209 ) $ (71,059 ) $ (58,209 ) Net loss per share from continuing operations, basic and diluted $ (0.42 ) $ (0.35 ) $ (1.88 ) $ (1.90 ) Net income (loss) per share from discontinued operations, basic and diluted — (0.07 ) 0.28 (0.33 ) Net loss per share, basic and diluted $ (0.42 ) $ (0.42 ) $ (1.60 ) $ (2.23 ) Weighted-average shares outstanding, basic and diluted 44,658,522 43,823,607 44,372,223 26,110,785