Biopharmaceutical company Parabilis Medicines said on Thursday that it is seeking to raise up to $475 million through its initial public offering (IPO) in the United States.
The U.S. IPO market, which had a mixed start earlier in the year, has recently gained momentum as a series of strong and well-received listings has boosted investor confidence and encouraged more companies to explore public offerings.
Parabilis is a clinical-stage biopharmaceutical company focused on developing Helicons, a new class of stabilized helical peptides. These are designed to target and regulate proteins that are traditionally considered difficult to address using conventional medicines.
The company plans to offer 25 million shares in its IPO, with each share priced between $17 and $19.
According to its IPO prospectus, Parabilis uses its proprietary platform to develop therapies targeting diseases driven by hard-to-address proteins.
Once the offering is completed, the company’s shares will be listed on the Nasdaq under the ticker symbol “PBLS.”
The IPO is being led by major underwriters, including Leerink Partners, BofA Securities, Evercore ISI, Guggenheim Securities, and LifeSci Capital.
About Parabilis Medicines
Parabilis Medicines is a clinical-stage biopharmaceutical company that focuses on developing new treatments for “undruggable” proteins that cause diseases in the human body. These are proteins that are difficult to target using traditional medicines. The company is known for developing Helicons™, a new type of stabilized alpha-helical peptides designed to act on proteins inside cells that regular drugs and antibodies cannot easily reach. Parabilis is also working on early-stage programs, including investigational therapies targeting ERG-related diseases. Its main oncology drug, zolucatetide (formerly FOG-001), is designed to target the Wnt/β-catenin signaling pathway, which plays a key role in certain cancers. This drug is currently being studied for conditions such as desmoid tumors, familial adenomatous polyposis, and other cancers driven by β-catenin.
