Inter symbol interference (ISI) degrades the performance of intensity modulation and direct detection (IM/DD) transmission systems due to various transceiver and channel impairments. To overcome the ISI of IM/DD transmission systems, the direct detection faster than Nyquist (DDFTN) algorithm has been widely used. However, when a system is subjected to severe ISI, the performance of the conventional DDFTN algorithm is suboptimal. To further improve the performance of IM/DD transmission systems, a modified DDFTN algorithm is proposed. We add least squares (LS) channel estimation after the postfilter. The coefficients of maximum likelihood sequence estimation (MLSE) are close to the initial channel response with LS channel estimation. The performance of the conventional and modified DDFTN algorithms is compared for 112, 140, and 160 Gbit/s PAM4 signals over 2 km, 1 km, and 500 m standard single-mode fibers (SSMFs) in a 3 dB bandwidth, 19 GHz IM/DD system in the C band. For 140 Gbit/s signal transmission over 1 km, the modified DDFTN algorithm achieves the optimal receiver sensitivity of -1.5 dBm at a 7% forward error correction (FEC) threshold of 3.8E-3, which is better than the receiver sensitivity of -0.5 dBm achieved with the conventional DDFTN algorithm. Furthermore, for 160 Gbit/s signal transmission over 500 m, the modified DDFTN algorithm achieves the optimal receiver sensitivity of 1 dBm at 3.8E-3, which is also a superior result compared to the conventional DDFTN algorithm.