BOSTON, Mass. — Sensei Biotherapeutics said it has acquired Faeth Therapeutics and completed a concurrent $200 million private placement, strengthening its balance sheet and expanding its oncology pipeline ahead of key clinical milestones in endometrial and breast cancer.
The acquisition brings Faeth’s lead investigational asset, PIKTOR, into Sensei’s portfolio. PIKTOR is an all-oral, multi-node inhibitor of the PI3K/AKT/mTOR pathway designed to target PI3K-alpha and both mTORC1 and mTORC2. The program is being developed across multiple solid tumor indications, including endometrial and breast cancer.
Alongside the acquisition, Sensei entered into a definitive agreement to sell Series B non-voting convertible preferred stock in a private placement expected to generate approximately $200 million in gross proceeds before expenses. The financing included participation from a group of institutional and life sciences investors. Sensei said it plans to use the proceeds primarily to advance PIKTOR through upcoming clinical milestones, including topline data from an ongoing Phase 2 trial in second-line advanced endometrial cancer and the initiation of a Phase 1b trial in HR+/HER2- advanced breast cancer, both expected by the end of 2026. Remaining funds will support general corporate purposes and completion of the company’s ongoing Phase 1/2 study of solnerstotug.
“The clinical data, the caliber of the scientific team, and the investor syndicate that came together for these transactions reinforce our conviction in the program,” said Bob Holmen, Chairman of the Board of Directors of Sensei Biotherapeutics. “With these proceeds, we believe the company is well capitalized to execute through key clinical milestones in endometrial and breast cancer.”
Faeth co-founder Anand Parikh has joined Sensei as Chief Operating Officer and a member of the board. He said PIKTOR was designed to address limitations seen with single-node inhibitors in the PI3K pathway, which often require tradeoffs between efficacy and tolerability.
“PIKTOR is designed to change that tradeoff by inhibiting PI3K-alpha and mTORC1/2 simultaneously, and we believe we can achieve more complete pathway suppression with improved tolerability,” Parikh said. “We saw the signal in our Phase 1b, including a number of complete responses in endometrial cancer patients after multiple prior lines of therapy. This financing takes us through topline Phase 2 data in that population and advances the Phase 1b breast cancer program.”
Sensei said it will host an audio-only conference call and webcast on February 18, 2026, to discuss the transaction and its clinical plans.
