Parabilis Medicines has closed its upsized initial public offering, raising gross proceeds of $770.5 million before expenses. The clinical-stage biopharmaceutical company priced an aggregate 38,525,000 shares at $20.00 per share, including the full exercise by underwriters of their option to purchase 5,025,000 additional shares. Trading on the Nasdaq Global Select Market commenced on June 10, 2026, under the ticker symbol PBLS, with the offering closing on June 11, 2026.

In a concurrent private placement that also closed on June 11, 2026, Parabilis sold 4,166,666 shares to Regeneron Pharmaceuticals at $18.00 per share, representing 90% of the IPO price. This transaction generated approximately $75 million in proceeds and was not registered under the Securities Act of 1933. The company has raised over $1.2 billion in funding in 2026 across public and private financings and strategic collaborations.

Leerink Partners, BofA Securities, Evercore ISI, and Guggenheim Securities acted as active book-running managers, while LifeSci Capital acted as passive book-running manager. Registration statements became effective on June 9, 2026. In connection with the IPO, all Parabilis preferred stock converted into common stock, and a $50 million Simple Agreement for Future Equity held by Explore Investments LLC converted into common stock.

Offering Details

Parabilis leverages its proprietary platform to develop Helicons™, stabilized helical peptides designed to modulate proteins beyond the reach of conventional medicines. All shares in the offering were sold by Parabilis.