Parabilis preps $413M IPO to fuel desmoid tumor drug into phase 3

Parabilis Medicines is preparing an IPO that could raise up to $476 million, with an estimated $413.6 million in net proceeds if the share price lands in the middle of its $17–$19 range.

The company plans to use the IPO funds to advance its lead Wnt/β-catenin inhibitor zolucatetide (also known as FOG‑001) into a global Phase 3 registrational trial for desmoid tumors by the first half of 2027.

Zolucatetide has already shown tumor reductions in all desmoid patients treated to date and a 74% objective response rate in those with at least two post‑baseline scans; it holds both FDA Fast Track and Orphan Drug designations for desmoid tumors.

The IPO comes on top of a $75 million Regeneron equity investment and a broader $2.3 billion research collaboration focused on antibody‑helicon conjugates, plus more than $800 million in prior private financing from major investors including ARCH, Fidelity, and RA Capital.