Senti Biosciences (SNTI) said Wednesday that the US Food and Drug Administration has granted orphan drug designation for SENTI-202, a drug candidate for relapsed or refractory acute myeloid leukemia.

The experimental drug is a first, off-the-shelf cancer immunotherapy natural killer cell treatment designed to target acute myeloid leukemia and other hematologic malignancies, the company said.

Senti-202 is currently being evaluated in a phase 1 clinical trial to assess its safety and efficacy, Senti Biosciences said.

The orphan drug designation provides benefits such as tax credits, exemptions from certain FDA fees, and potential market exclusivity for seven years, the company added.