What Happened
Cancer Biotech Upsizes Fundraising Goal Amid Strong Investor Interest
Parabilis Medicines, a cancer biotech formerly known as FogPharma, has revised its IPO plans to raise up to $553.1 million, with the potential to reach $636.8 million if all options are exercised. The funds will primarily support phase 3 development of desmoid tumor treatment zolucatetide, as well as advancement of the company’s pipeline. Parabilis’ platform focuses on helicon peptides, designed to target previously undruggable targets, including the Wnt/b-catenin cell signaling pathway. This development was first reported by Fierce Biotech.