Senti Biosciences Sells Certain Assets to Celadon Partners
Palo Alto – August 14, 2023 – Cooley advised Senti Biosciences, a biotechnology company, on its sale of certain assets – including its manufacturing facility and chemistry, manufacturing, and controls capabilities – to Celadon Partners to establish GeneFab. Cooley lawyers Maureen Nagle, Luke Blackett and Chrystal Cantrelle led the team advising on M&A, while Rena Kaminsky and Freddy Yip led the life sciences partnering team, and Peter Crain and Alanna Zuchelli led the real estate team.
Senti Bio is eligible to receive approximately $38 million in cash by the end of 2025 – with approximately $18.9 million due at closing and the remaining $18.9 million to be paid in installments in 2024 and 2025, subject to satisfaction of certain conditions – as well as an $8 million in manufacturing credit. The sale will enhance Senti Bio’s focus on advancing its oncology programs.
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