Sana Biotechnology Appoints New Leader For Scientific Innovation

Sana Biotechnology, Inc., a leader in cell engineering, has brought on board Dhaval Patel, M.D., Ph.D., as its new Executive Vice President and Chief Scientific Officer. Dr. Patel, who has a distinguished career in research and development, comes from UCB, where he played a pivotal role in bringing several treatments to FDA approval.

Steve Harr, Sana's President and CEO, expressed strong confidence in Dr. Patel’s ability to advance the company’s clinical programs and fuel innovation, especially in the areas of B-cell mediated autoimmune diseases and type 1 diabetes. Harr emphasized Patel’s remarkable track record, noting his involvement in the development of 10 FDA-approved therapies.

Dr. Patel's previous experience includes a decade at Novartis, where he led research at the Novartis Institutes for BioMedical Research Europe. His leadership contributed to the successful registration of numerous treatments across various indications. Additionally, Dr. Patel has held academic positions at the University of North Carolina and Duke University School of Medicine.

Dr. Patel is eager to join Sana during a time of significant growth, with four active clinical trials covering seven different indications. He sees great promise in Sana’s hypoimmune platform, which aims to push the boundaries of science and bring transformative therapies to patients. Sana Biotechnology is focused on developing engineered cells as therapies, with a vision of repairing and controlling genes, replacing damaged or missing cells, and making these treatments broadly available.

The press release also contains forward-looking statements about Sana’s strategy and future prospects, which come with inherent risks and uncertainties. In related news, Sana Biotechnology has recently made notable progress in its Type 1 diabetes (T1D) trial, leading Citi to raise its price target for the company’s shares from $8.00 to $15.00 while maintaining a Buy rating. This follows the company's announcement of the enrollment of several T1D patients in a study in Uppsala, Sweden. Despite previous delays, the study is now moving forward, with the company expecting to share data from the first patient approximately 30 days after the dosing procedure.

Citi has also placed Sana Biotechnology on a 90-day Catalyst Watch, anticipating the data readout from the trial. The investment firm is optimistic that positive T1D data could lead to a significant increase in the company’s share value. The Buy rating, now coupled with a High Risk qualifier, reflects Citi’s belief in the potential impact of the ongoing study on Sana Biotechnology’s future performance. These are among the latest developments for the company.