Sana raised $93,3 million and is preparing lab-grown pancreatic cells for a type 1 diabetes trial

Sana raised $93,3 million and is preparing lab-grown pancreatic cells for a type 1 diabetes trial

On August 10, Sana Biotechnology reported $93,3 million in net proceeds during the second quarter from stock sales and equity financing. As of June 30, the company held $160,5 million in cash and marketable securities. It expects these funds to support operations through mid-2027.

In type 1 diabetes, the immune system destroys the insulin-producing beta cells in the pancreas. SC451 consists of pancreatic islet cells grown from induced pluripotent stem cells (iPSC). These stem cells are made by returning ordinary cells to a state from which they can develop into different tissues. Sana is developing SC451 to replace the function lost when beta cells are destroyed.

In SC451 and its earlier UP421 program, the company uses HIP, a cellular modification intended to make the cells less visible to the immune system. In a July study of UP421 in a human participant, Sana transplanted donor islet cells carrying the same modification. After 12 weeks, the company reported that it had found no immune attack and had detected C-peptide, which indicates that the transplant was producing insulin. UP421 and SC451 are different products. UP421 uses donor cells, while SC451 is grown from a stem cell line.

For SC451, Sana is completing preclinical safety testing under Good Laboratory Practice (GLP), transferring the process to a contract cell manufacturer, and preparing a clinical trial. Mayo Clinic invested $25 million in Sana and is helping to develop, validate, and standardize SC451 protocols and processes so that the cells can be used consistently across different clinical settings. In 2026, Sana plans to submit an IND application to the FDA for the first human study of SC451 and to begin a combined phase 1/2 trial.