Senti Biosciences (NASDAQ: SNTI) has experienced a meteoric rise in its stock value as the company embarks on a strategic collaboration in China.
Senti Biosciences has joined forces with Celest Therapeutics, a prominent biotechnology company, to advance the clinical development of SENTI-301A, a groundbreaking treatment for solid tumors.
Celest Therapeutics will spearhead the clinical development, which includes the manufacturing of SENTI-301A within China, while Senti Biosciences (NASDAQ: SNTI) will provide technical expertise and support to facilitate this monumental endeavor.
This collaboration brings in the potential for Senti Biosciences to earn $156 million in milestone payments from Celest Therapeutics. The deal also includes a tiered royalty payment structure for SNTI. Furthermore, SNTI will retain the rights to commercialize SENTI-301A beyond mainland China, Hong Kong, Macau, and Taiwan.
Timothy Lu, MD, PhD, the co-founder and CEO of Senti Biosciences, expressed his enthusiasm about the collaboration, stating,
“By leveraging Celest’s strength to accelerate clinical development, manufacturing, and regulatory activities in China, we are one step closer to bringing Senti’s Gene Circuit technology to patients who have limited therapeutic options.”
The announcement has triggered an overwhelming surge in SNTI stock trading activity. As of the latest update, 8.7 million shares have changed hands, a significant surge compared to the daily average trading volume of 396,000.
SNTI stock has been trading at $0.6710 as of press time, up 129% compared to the previous trading session.