Sensei Biotherapeutics, a Phase 2 biotech developing bacteriophage-based therapies for cancer, announced terms for its IPO on Monday.
The Rockville, MD-based company plans to raise $100 million by offering 5.9 million shares at a price range of $16 to $18. At the midpoint of the proposed range, Sensei Biotherapeutics would command a fully diluted market value of $508 million.
Sensei's proprietary ImmunoPhage platform is designed to utilize bacteriophage to induce an innate and adaptive immune response. The company's lead candidate, SNS-301, is currently in an ongoing 30-patient Phase 1/2 trial in combination with the PD-1 inhibitor pembrolizumab for squamous cell carcinoma of the head and neck. Topline data is expected by the end of 2021, and if the results are positive, subject to feedback from the FDA, the company intends to initiate a randomized, registration-enabling trial.
Sensei Biotherapeutics was founded in 1999 and plans to list on the Nasdaq under the symbol SNSE. Citi, Piper Sandler and Berenberg are the joint bookrunners on the deal. It is expected to price during the week of February 1, 2021.
