Parabilis plans $475m IPO with Regeneron to buy $75m stake at 10% discount
REGN•Parabilis Medicines filed for a $475m IPO on Nasdaq, offering 25m shares at $18 each plus a 3.75m-share overallotment, with Regeneron set to purchase 4,629,629 shares (valued at $75m) at a 10% discount. The biotech will allocate $150m to registrational Phase III trials of zolucatetide and $250m to other programs.
1. IPO Structure and Regeneron Participation
Parabilis is offering 25,000,000 shares at $18 per unit with an additional 3,750,000 share overallotment option. Regeneron has committed to purchase 4,629,629 shares worth $75m at a 10% discount, securing immediate equity exposure to Parabilis’s pipeline.
2. Funding Allocation for Zolucatetide
Of the expected proceeds, $150m will fund a registrational Phase III study of zolucatetide in desmoid tumours. The trial aims to position zolucatetide as a first-in-class β-catenin inhibitor in a market currently led by nirogacestat.
3. Investment in Other Programs and Platform
Parabilis plans to invest $120m into additional rare cancer indications for zolucatetide and $130m to advance ERG, ARON and β-catenin degrader candidates. Remaining funds will support expansion of the Helicon delivery platform and early-stage clinical programs.
