Sensei Biotherapeutics completes Faeth acquisition and launches $200M financing to push PIKTOR
Sensei Biotherapeutics announced it has acquired Faeth Therapeutics, gaining Faeth’s lead asset PIKTOR (an oral, multi-node PI3K/AKT/mTOR inhibitor), and concurrently entered into a private placement that is expected to raise about $200 million in Series B non-voting convertible preferred stock. The proceeds are slated to advance PIKTOR through key milestones, including topline data from a Phase 2 trial in second-line advanced endometrial cancer and the initiation of a Phase 1b trial in HR+/HER2- advanced breast cancer, with the remainder supporting other corporate goals and Sensei’s ongoing solnerstotug trial. Post-transaction ownership is projected to be ~4.9% for existing Sensei holders, ~40.8% for Faeth holders, and ~54.3% for new investors on a fully diluted basis. The deal was approved by the boards and is subject to Sensei stockholder approval for conversion of the Series B shares. Advisors and channels for the financing and a February 18, 2026 conference call are noted in the release.