{"id":697349,"date":"2026-06-11T08:18:16","date_gmt":"2026-06-11T08:18:16","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/697349\/"},"modified":"2026-06-11T08:18:16","modified_gmt":"2026-06-11T08:18:16","slug":"parabilis-now-the-largest-vc-backed-biotech-ipo","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/697349\/","title":{"rendered":"Parabilis now the largest VC-backed biotech IPO"},"content":{"rendered":"\n

Ben Zercher is a Senior Analyst at PitchBook covering biotech & pharma.<\/p>\n

Parabilis Medicines<\/a> just broke the record for the largest venture-backed biotech IPO, only weeks after Kailera Therapeutics<\/a> took the crown. Shares of the cancer biotech company closed their first day of trading at $31.60\u201458% above the IPO price of $20 per share. The company raised gross proceeds of around $670 million.<\/p>\n

Unlike Kailera, which was formed in 2024 and quickly stockpiled private capital before going public, Parabilis took a longer and far less linear road.<\/p>\n

Founded as FogPharma in 2017, Parabilis raised six venture rounds. Its valuation fluctuated through a rebrand, leadership turnover, and the post-pandemic biotech winter. Parabilis\u2019 lead drug candidate, zolucatetide, boosted the company\u2019s momentum last year. This engineered peptide is designed to shut off a faulty signal that tells certain rare tumors to keep growing, and holds the potential to treat other cancers.<\/p>\n

After an FDA Fast Track designation in late 2025, Parabilis raised a $305 million Series F round in January this year. An Orphan Drug designation and Regeneron collaboration laid further groundwork for the record IPO, which debuted on the Nasdaq Global Select Market.<\/p>\n

The biotech IPO window is open again, and the rush of deals isn\u2019t hype. It\u2019s a backlog of strong companies that kept building through the funding downturn and are now finally going public.<\/p>\n

While the pandemic-era class sold preclinical promises, Parabilis and its 2026 peers have real clinical programs behind them.<\/p>\n

\"\" <\/p>\n

This article originally appeared on PitchBook News<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Ben Zercher is a Senior Analyst at PitchBook covering biotech & pharma. Parabilis Medicines just broke the record…\n","protected":false},"author":2,"featured_media":697350,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[267140,28,302017,302018],"class_list":["post-697349","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-biotech-company","tag-business","tag-kailera-therapeutics","tag-parabilis-medicines"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/697349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=697349"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/697349\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/697350"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=697349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=697349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=697349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}