Parabilis Medicines closes $770.5 million IPO and concurrent private placement

Parabilis Medicines Inc. (NASDAQ: PBLS) completed its initial public offering on June 11, 2026, selling 38,525,000 shares at $20.00 per share, according to a company statement. The offering included the full exercise of underwriters' overallotment option to purchase 5,025,000 additional shares.

The clinical-stage biopharmaceutical company raised gross proceeds of $770.5 million from the IPO before deducting underwriting discounts and offering expenses. The company's stock began trading on the Nasdaq Global Select Market on June 10, 2026.

Parabilis also completed a concurrent private placement with Regeneron Pharmaceuticals Inc., selling 4,166,666 shares at $18.00 per share, generating approximately $75 million in additional proceeds. The private placement shares were priced at 90% of the IPO price and were not registered under the Securities Act of 1933.

Leerink Partners, BofA Securities, Evercore ISI and Guggenheim Securities served as active book-running managers for the offering, while LifeSci Capital acted as passive bookrunning manager.

In connection with the IPO, all preferred stock converted to common stock, and a $50 million Simple Agreement for Future Equity held by Explore Investments LLC also converted to common stock.

The company stated it has raised over $1.2 billion in funding before fees and expenses in 2026 across public and private financings and strategic collaborations. Parabilis develops medicines targeting protein targets that have been difficult to address with conventional drugs, using its proprietary Helicons platform of stabilized helical peptides.

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