The Cambrian Biopharma-backed cancer treatment developer floated above its range in an offering on the Nasdaq Global Market.

US-based oncology treatment developer Sensei Biotherapeutics has raised $133m in an upsized initial public offering (IPO) on the Nasdaq Global Market that provided an exit for medical research group Cambrian Biopharma.

The company issued 7 million shares priced at $19 each, above the $16 to $18 range it had set for the offering, valuing it at over $560m.

Sensei is developing immunotherapies that will be used to treat cancer and infectious diseases by generating an immune system response to…