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• Business Combination Facilitation: The company's primary service is to identify and complete a merger, acquisition, or other business combination with an operating company.

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Based on the provided background information for Senti Biosciences (symbol: SNTI), described as Dynamics Special Purpose Corp., the company does not have significant operations. Its primary focus is on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other business combination. As such, it does not currently sell products or services and therefore does not have major customers.

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Dr. Timothy Lu, Co-Founder and Chief Executive Officer

Dr. Lu co-founded Senti Bio in 2016. He was a tenured MIT faculty member in the departments of Biological Engineering and Electrical Engineering and Computer Science from 2010-2022. Dr. Lu has co-founded and served on the Scientific Advisory Boards of several biotechnology and biopharmaceutical companies, including BiomX, Corvium, Eligo Bioscience, Engine Biosciences, Synlogic, and Tango Therapeutics. He holds an M.D. from Harvard Medical School and a Ph.D. in Electrical and Biomedical Engineering from Massachusetts Institute of Technology. He is recognized as a pioneer in synthetic biology.

Jay Cross, Chief Financial Officer

Mr. Cross joined Senti Bio on March 3, 2025, and oversees the company's financial strategy, operations, and investor relations. Before joining Senti Bio, he served as Chief Financial Officer at Sonnet BioTherapeutics for six years, where he successfully directed a capital markets campaign that raised over $100 million. He has a 20-year career on Wall Street, having served as a managing director in healthcare investment banking at Chardan, and as a professional investor at funds such as SAC Capital, Citadel, and Balyasny Asset Management. Mr. Cross began his finance career covering biotechnology for equity research at Hambrecht & Quist and Goldman Sachs. He earned a Master of Public Health from the Yale University School of Medicine.

Dr. Kanya Rajangam, Chief Medical Officer, Head of Research & Development

Dr. Rajangam is crucial to advancing Senti Bio's clinical pipeline, including their lead candidate, SENTI-202.

Faraz Siddiqui, Senior Vice President of Technical Operations

Mr. Siddiqui joined Senti Bio in January 2025. He brings over 27 years of biopharmaceutical experience, particularly in cell therapies. His previous roles include Senior Vice President, Manufacturing Operations at IGM Biosciences, and leadership positions at Instil Bio, Kite Pharma, and Genentech, where he specialized in process development and manufacturing operations.

Michael Rhee, General Counsel, Secretary

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1. Going Concern and Financing Risk: Senti Biosciences faces substantial doubt regarding its ability to continue as a going concern, primarily due to recurring losses, negative cash flows from operations, and limited cash reserves. The company consistently requires external capital through various financing mechanisms to fund its ongoing operations and advance product development, with its cash runway estimated to be less than a year.
2. Product Development and Regulatory Risk: As a clinical-stage biotechnology company, Senti Biosciences has no product revenue, and its financial success is contingent on the successful development, regulatory approval, and commercialization of its pipeline candidates, such as SENTI-202. The gene circuit platform technologies are unproven, and there are significant inherent risks of clinical trial failures, delays, or the generation of negative or inconclusive data, which could materially impact the company's prospects and ability to secure further funding. Additionally, the complex and evolving regulatory environment for gene circuit and platform technologies presents further uncertainty.
3. Dilution Risk: To address its continuous need for funding, Senti Biosciences frequently engages in equity issuances, including through convertible securities, warrants, and equity plans. This ongoing reliance on external capital poses a considerable risk of significant dilution for existing shareholders, potentially impacting the stock's value and existing ownership percentages.

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Senti Biosciences (SNTI) is a clinical-stage biotechnology company focused on developing a new generation of cell and gene therapies through its proprietary Gene Circuit platform. The company's main product candidates include SENTI-202, targeting acute myeloid leukemia (AML) and myelodysplastic syndromes (MDS), and SENTI-301A, aimed at GPC3 positive tumors such as hepatocellular carcinoma (HCC).

Addressable Markets for Senti Biosciences' Main Products and Services:

• Acute Myeloid Leukemia (AML) Treatment Market: The global acute myeloid leukemia treatment market was valued at approximately USD 2.82 billion in 2025 and is projected to reach USD 7.65 billion by 2035, growing at a Compound Annual Growth Rate (CAGR) of 10.5% during this period. North America is expected to hold a significant share of this market, with some estimates placing it at over 40% by 2035. The U.S. market alone accounted for 90.9% of the North American market in 2024.
• Myelodysplastic Syndromes (MDS) Treatment Market: The global myelodysplastic syndrome drugs market was valued at USD 4.55 billion in 2024 and is anticipated to reach around USD 11.17 billion by 2034, with a CAGR of 9.4% from 2025 to 2034. North America held the largest revenue share in the MDS drugs market, at 36% in 2024.
• Hepatocellular Carcinoma (HCC) Treatment Market: The global hepatocellular carcinoma (HCC) treatment market size is projected to be valued at approximately US$ 5.2 billion in 2026 and is expected to reach US$ 9.4 billion by 2033, demonstrating a CAGR of 8.8%. North America is expected to dominate this market, holding an estimated 38% of the market share in 2026.
• CAR-NK Cell Therapy Market (Underlying Technology for SENTI-202 and SENTI-301A): The global CAR-NK cell therapy market was valued at approximately USD 2.16 billion in 2024 and is projected to reach USD 3.10 billion by 2032, growing at a CAGR of 6.2%. Another estimate values the global CAR-NK Cell Therapy market at USD 1.27 billion in 2024, with a projection to reach USD 10.09 billion by 2033 at a substantial CAGR of 24.2%. The U.S. currently dominates this market.
• Overall Cell and Gene Therapy Market (Broader Platform Technology): The global cell and gene therapy market was estimated at USD 8.94 billion in 2025 and is projected to increase to approximately USD 45.24 billion by 2035, with a CAGR of 17.60%. Another report indicated the market size to be US$ 27.02 billion in 2025, with expectations to climb to US$ 33.5 billion in 2026 and reach US$ 232.22 billion by 2035, at a CAGR of 24%. North America held the largest market share, with 50.26% in 2025.

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Senti Biosciences (SNTI) is a clinical-stage biotechnology company focused on developing next-generation cell and gene therapies using its proprietary gene circuit platform technologies. The company's future revenue growth over the next 2-3 years is anticipated to be driven by the advancement of its pipeline candidates and strategic collaborations.

Here are 3-5 expected drivers of future revenue growth for Senti Biosciences:

1. Clinical Development and Potential Commercialization of Lead Candidate SENTI-202: SENTI-202 is Senti Biosciences' lead wholly-owned product candidate, a Logic Gated off-the-shelf CAR-NK cell therapy for relapsed or refractory acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS). The company has completed enrollment in its Phase 1 clinical trial for SENTI-202 and reported positive data from ASH 2025, showing deep, MRD-negative, durable complete remissions and a favorable safety profile. Senti Biosciences plans discussions with the FDA in the first half of 2026 and is designing a potential pivotal registration program, also exploring expansion to newly diagnosed and pediatric AML. The receipt of FDA Regenerative Medicine Advanced Therapy (RMAT) designation further highlights its potential for expedited development and commercialization.
2. Strategic Partnerships for Pipeline Expansion and Regional Development: Senti Biosciences is actively pursuing strategic geographic partnerships for the clinical development of its product candidate SENTI-301A, particularly in Asia, where hepatocellular carcinoma (HCC) is more prevalent. This multi-armed off-the-shelf CAR-NK cell therapy is designed for the treatment of GPC3 positive tumors. Such collaborations, including the existing one with Celest Therapeutics for SENTI-301A in China, can generate revenue through upfront payments, milestone achievements, and future royalties, while also reducing the company's internal research and development expenses.
3. Monetization of the Gene Circuit Platform Technology through New Collaborations: The company's proprietary synthetic biology platform, which engineers gene circuits into new medicines with enhanced precision and control, is a core asset. This platform has demonstrated preclinical potential for applications in other therapeutic modalities and diseases beyond oncology. Expanding partnerships beyond existing ones, through licensing agreements or new collaboration deals across diverse therapeutic areas, represents a significant potential revenue stream.
4. Advancement of Additional Wholly-Owned Pipeline Candidates, such as SENTI-401: Beyond SENTI-202, Senti Biosciences is developing other wholly-owned candidates, including SENTI-401. SENTI-401 incorporates multiple Gene Circuit technologies to target solid tumors expressing the CEA tumor antigen, such as colorectal cancer. The continued progression of these programs through preclinical and early clinical stages will enhance the company's valuation and could lead to future direct commercialization or lucrative licensing opportunities.

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Capital Allocation Decisions for Senti Biosciences (SNTI)

Share Issuance

• Senti Biosciences received over $296 million in gross proceeds from its business combination with Dynamics Special Purpose Corp., which included approximately $230.0 million in cash from Dynamics' trust account and over $66 million from a fully committed Private Investment in Public Equity (PIPE) at $10.00 per share.
• The company's common stock includes up to 2,000,000 shares that may be issued as "Contingency Consideration" upon achieving specific stock price thresholds.
• In June 2025, Senti Biosciences granted 21,950 stock options to board members at an exercise price of $2.05 per share, vesting upon the earlier of the first anniversary of the grant or the 2026 annual shareholders' meeting.

Inbound Investments

• The business combination with Dynamics Special Purpose Corp. resulted in over $296 million in gross proceeds.
• A significant portion of these proceeds came from a PIPE totaling more than $66 million, with investors including the venture investment arm of Amgen Inc., funds managed by Morgan Stanley's Counterpoint Global, and T. Rowe Price funds.

Capital Expenditures

• Proceeds from the merger and PIPE transaction were allocated to further develop Senti Biosciences' Gene Circuit technologies and therapeutic pipeline.
• Capital expenditures are primarily focused on research and development activities to advance its preclinical biotechnology programs, including candidates like SENTI-202 for acute myeloid leukemia (AML) and SENTI-301 for hepatocellular carcinoma (HCC).