The cancer treatment developer raised $52.8m, floating beneath its $14 to $16 range, as existing backer Fidelity invested $8m.

Syndax Pharmaceuticals, an oncology treatment developer that counts financial services group Fidelity Management and Research among its investors, raised $52.8m when it floated on Nasdaq yesterday.

The company priced 4.4 million shares at $12.00 each, below the $14 to $16 range it set last month.

Syndax is developing an oral, small-molecule drug treatment called Entinostat for cancers including lung cancer, melanoma, ovarian cancer and triple-negative breast cancer. The IPO proceeds will support phase 2 and 3 clinical trials and…