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Sana Biotechnology
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Updated Nov 5, 2026
Sana Biotechnology advances SC451 IND filing and SG293 toward 1Q 2027 first-in-human with $121.7M cash runway into mid-2027.
Sana Biotechnology's Q3 2026 press release is defined by two clinical catalysts: an imminent IND filing for SC451 (HIP-modified iPSC-derived islet therapy for type 1 diabetes) and first-in-human data for SG293 (CD8-targeted fusosome) expected in the first half of 2027. The August 2026 amendment to the Cobalt acquisition agreement drove a $55.5 million non-cash gain on contingent consideration, producing a GAAP net income of $20.4 million for Q3 — a figure that obscures the underlying non-GAAP net loss of $43.0 million and a cash runway that extends only into mid-2027. With $121.7 million in cash and a non-GAAP operating cash burn of $103.4 million year-to-date, Sana faces a financing imperative within approximately two to three quarters.
Tone: cautiousEmployees
142
Founded
2018
Headquarters
Seattle, WA
Profile
SANA 10-K Item 1 · Mar 3, 2026Sana Biotechnology is a clinical-stage cell engineering company developing ex vivo and in vivo engineered cell therapies for type 1 diabetes, B cell malignancies, and B cell mediated autoimmune diseases. Its two lead programs are SC451, a hypoimmune iPSC-derived pancreatic islet cell therapy targeting T1D, and SG293, an in vivo CD8-targeted CAR T fusosome for B cell cancers and autoimmune disease. The company's proprietary hypoimmune (HIP) platform enables allogeneic cell transplantation without immunosuppression.
Read filing description ↓ Collapse description ↑
We were founded on the belief that engineered cells will be one of the most important transformations in medicine over the next several decades. The burden of diseases that can be addressed at their root cause through engineered cells is significant. We view engineered cells as having the potential to be as therapeutically disruptive as biologic drugs to clinical practice, enabling us to repair cells in the body when possible and replace them when needed. We have developed ex vivo and in vivo cell engineering platforms to revolutionize treatment across a broad array of therapeutic areas with unmet treatment needs, including type 1 diabetes, oncology, and B cell mediated autoimmune diseases. For our ex vivo platform, we have made focused investments in our hypoimmune platform technology, which we refer to as our HIP technology, with the twin goals of engineering allogeneic cells that can 'hide' from the patient's immune system to overcome the fundamental challenge of immune rejection and cell persistence and that we can manufacture at scale. A successful therapeutic requires cells that can engraft, function, and persist in the body, and we believe our approach can unlock a wave of disruptive therapeutics, starting in type 1 diabetes. For in vivo therapies that aim to repair or control genes in the body, a successful product candidate requires both gene modification and in vivo delivery of the therapeutic payload. Our initial focus is on cell-specific delivery of genetic payloads, known as chimeric antigen receptors (CARs), to a patient's T cells, resulting in the generation and proliferation of CAR T cells, which have been shown to deplete a patient's disease-causing B cells. We are currently focused on advancing two distinct therapeutics, each of which leverages one of these platform technologies. SC451 is our HIP-edited product candidate for the treatment of type 1 diabetes. SG293 is our in vivo CAR T product candidate for the treatment of B cell malignancies and B cell mediated autoimmune diseases. We retain worldwide rights to each of these product candidates.
Primary products
- SC451 (HIP-modified iPSC-derived pancreatic islet cell therapy)
- SG293 (CD8-targeted fusosome in vivo CAR T)
- UP421 (HIP-modified allogeneic primary islet cell therapy)
End markets
Geographies
Named competitors
“Among companies pursuing ex vivo and in vivo cell engineering, we believe we are substantially differentiated by our robust intellectual property portfolio, extensive research, rigorous and objective approach, and multidisciplinary capabilities.” Competitive position, as stated in the filing
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