Sensei Biotherapeutics, a Phase 2 biotech developing bacteriophage-based therapies for cancer, raised $133 million by offering 7 million shares at $19, above the range of $16 to $18. The company offered 1.1 million more shares than anticipated.
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 plans to list on the Nasdaq under the symbol SNSE. Citi, Piper Sandler and Berenberg acted as lead managers on the deal.
