Painting by the numbers, Sana founders carve up a giant unicorn-sized IPO — for a biotech that hasn't quite made it to the clinic
Sana Biotechnology is one of those startups that was sketched in on the chalkboard day one in the shape of a unicorn.
A giant unicorn.
And from the numbers the cell therapy 2.0 play spelled out in their S-1 $SANA, it’s clear that the company founders — led by a pair of major VCs aligned with some high-profile industry figures — are hunting a big chunk of that value for themselves.
The raise they penciled in — $150 million — isn’t likely what they actually have in mind, and it doesn’t do justice to the size of their ambitions.
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