Parabilis IPO Raises $670M, Regeneron Invests $75M in Private Placement
REGN•Parabilis Medicines raised $670 million in its IPO by selling 33.5 million shares at $20 each, the largest biotech offering on record. Regeneron Pharmaceuticals invested $75 million by acquiring 4.17 million shares at $18 in a concurrent private placement, bringing total proceeds to $745 million under a May partnership.
1. Parabilis completes record biotech IPO
Parabilis Medicines priced its initial public offering at $20 per share, selling 33.5 million shares to raise $670 million, eclipsing the previous biotech IPO record. Underwriters hold an option for an additional 5.025 million shares at the IPO price.
2. Regeneron participates via private placement
Regeneron Pharmaceuticals acquired 4.17 million Parabilis shares at $18 apiece in a concurrent private placement, investing $75 million. This investment stems from a partnership agreement reached in May and lifts total capital raised to $745 million.
