Business Wire·Feb 18, 2026, 8:00 AM ET

Sensei Biotherapeutics Announces Acquisition of Faeth Therapeutics and $200 Million Concurrent Private Placement

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Sensei Biotherapeutics acquired Faeth Therapeutics to add its lead asset PIKTOR to Sensei's pipeline.
PIKTOR is an investigational all-oral combination of serabelisib and sapanisertib that inhibits multiple nodes of the PI3K/AKT/mTOR pathway.
The acquisition includes a concurrent $200 million private placement of Series B non-voting convertible preferred stock.
Proceeds from the financing will primarily fund PIKTOR through key clinical milestones expected by year-end 2026.
Expected milestones include top-line data from a Phase 2 trial in second-line advanced endometrial cancer.
A Phase 1b trial in HR+/HER2- advanced breast cancer is also expected to initiate by year-end 2026.
Remaining funds will support general corporate purposes and the completion of Sensei's ongoing Phase 1/2 trial of solnerstotug.
Faeth's co-founder Anand Parikh joined Sensei as Chief Operating Officer and director following the transaction.
The acquisition was structured as a stock-for-stock exchange where Faeth equityholders will own approximately 40.8% of Sensei on a fully-diluted basis.
Investors in the private placement will own approximately 54.3% of Sensei on a fully-diluted basis after conversion.
Sensei stockholders will own approximately 4.9% of the company on a fully-diluted basis post-transaction.
Conversion of Series B stock requires Sensei stockholder approval, with a meeting scheduled to address this requirement.
Sensei will host an audio-only conference call and webcast on February 18, 2026, at 8:30 a.m. ET to discuss the transactions.