Sensei Biotherapeutics Inc. is seeking to raise $100 million in its initial public offering, according to its filing with the SEC on January 15, 2021.
Article Originally Published by Rockville Patch
ROCKVILLE, MD — Sensei Biotherapeutics Inc., a clinical-stage immunotherapy company based in Rockville, has filed to go public.
The cancer drug developer is seeking to raise $100 million in its initial public offering, according to its filing with the U.S. Securities and Exchange Commission on Friday, January 15.
No pricing terms or a public offering date were disclosed. But Sensei says it intends to use the proceeds to fund the clinical development of SNS-301, an immunotherapy candidate that’s in Phase 1/2 trials.
SNS-301 is being tested as a potential treatment for squamous cell carcinoma of the head and neck. Topline data from this trial is expected by the end of 2021.
According to the filing, the money will also help fund the development of its ImmunoPhage platform — which uses genetically engineered viruses to create robust immune responses to cancer proteins.
“Our business is highly dependent on the success of our lead product candidate, SNS-301, and any other product candidates that we advance into the clinic,” the company wrote.
Sensei — which was originally founded in 1999 as Panacea Pharmaceuticals Inc. — reported a net loss of $16.7 million in 2019. As of Sept. 30, 2020, the company has accumulated a deficit of $107.3 million.
The company said it has funded its operations “to date primarily with proceeds from the sale of (its) equity securities and borrowings of convertible debt.”
Sensei, which is headquartered at 1405 Research Blvd., plans to join the Nasdaq Global Market under the ticker symbol “SNSE.”