Prime Highlights
- Parabilis could receive up to 2.2 billion dollars in milestone payments through its research collaboration with Regeneron Pharmaceuticals.
- The company’s lead drug candidate, zolucatetide, has already been evaluated in more than 150 patients across several solid tumour types.
Key Facts
- Parabilis Medicines is a clinical-stage biopharmaceutical company developing Helicon therapies that target previously hard-to-treat proteins.
- Regeneron Pharmaceuticals, its new partner, will invest approximately 75 million dollars in Parabilis stock through a private placement tied to the IPO.
Background
Parabilis Medicines filed for an initial public offering in the United States in the third week of May, stating it plans to use part of the proceeds to advance its drug development pipeline.
The clinical-stage biopharmaceutical company develops Helicons, a class of therapies designed to target proteins that have historically been difficult to treat. The lead compound, zolucatetide, has been tested on more than 150 patients and has shown positive clinical results for various solid tumors.
Parabilis intends to utilize the capital raised from the IPO together with the capital raised from its contemporaneous private placement for the clinical development of zolucatetide, expanding its pipeline and funding its Helicon technology platform.
The filing also revealed that Regeneron Pharmaceuticals has entered into a partnership with Parabilis. Under this collaboration, Parabilis could receive up to 2.2 billion dollars in milestone payments to develop treatments for hard-to-reach disease targets. As part of the deal, Regeneron agreed to purchase approximately 75 million dollars worth of Parabilis stock through the private placement linked to the IPO.
The IPO arrives as investor interest in new listings strengthens, following strong market debuts by companies such as AI chipmaker Cerebras Systems and geothermal energy firm Fervo Energy.
Parabilis will list on the Nasdaq stock exchange under the ticker symbol “PBLS”. Leerink Partners, BofA Securities, and Evercore ISI are among the underwriters managing the offering.
