Parabilis Medicines, a Phase 3-ready biotech developing engineered peptide therapies for cancer, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.
Parabilis Medicines is a clinical-stage biotech developing medicines that target proteins previously considered undruggable. Formerly known as FOG Pharmaceuticals, the company's proprietary Helicon platform produces stabilized helical peptides designed to modulate intracellular protein interactions that are inaccessible to traditional small molecules or biologics. Its lead candidate, zolucatetide, targets the Wnt/β-catenin pathway, which drives a broad range of solid tumors; more than 150 patients have been dosed with zolucatetide to date. In clinical trials for its lead indication, desmoid tumors, 38 patients have been enrolled and treated with zolucatetide; of the 25 patients with sufficient follow up to be response-evaluable, all 25 (100%) demonstrated tumor reductions, while 14 of the 19 (74%) with two post-baseline scans had an objective response per RECIST 1.1. The company plans to initiate a Phase 3 registrational trial in desmoid tumors in the first half of 2027. It is also evaluating zolucatetide's potential as a treatment for orphan disease Familial Adenomatous Polyposis (FAP).
The Cambridge, MA-based company was founded in 2015 and plans to list on the Nasdaq under the symbol PBLS. Parabilis Medicines filed confidentially on April 2, 2026. Leerink Partners, BofA Securities, Evercore ISI, Guggenheim Securities, and LifeSci Capital are the joint bookrunners on the deal.
