Parabilis Medicines

Private

#Oncology (Solid Tumors)#Wnt/beta-catenin Pathway #Transcription Factor Modulation #Hedgehog Pathway #Precision Medicine

Parabilis Medicines is a private clinical-stage biotechnology company developing precision oncology medicines for cancer targets historically considered undruggable. Its platform engineers stabilized peptide-based and small-molecule modulators against oncology targets including beta-catenin, ERG, and the Hedgehog pathway.

Company Info

Sector: Biotechnology / Oncology

Headquarters: Cambridge, Massachusetts, USA

Founded: 2019

Website: parabilismed.com/

Funding Round: IPO June 2026 (largest biotech IPO on record, ~$670M)

Total Funding: $1B+ pre-IPO cumulative private funding

Funding & Investor Relations

Notable Investors

RA Capital Management
ARCH Venture Partners
Bain Capital Life Sciences
Foresite Capital
EcoR1 Capital
Surveyor Capital

IPO Outlook / Plans

Completed $670M IPO on Nasdaq in June 2026, listing as Parabilis Medicines (ticker PBLM); largest biotech IPO in industry history.

Upcoming Milestones & Key Dates

Q3 2026

Clinical Trial

First clinical data readout for PBL-101 in Wnt-altered solid tumors

Late 2026

Regulatory

IND filing for PBL-201 in TMPRSS2-ERG positive prostate cancer

Clinical Development Pipeline

PBL-101 (formerly FOG-001)

Target: TCF4/beta-catenin protein-protein interaction inhibitor

Solid tumors with Wnt/beta-catenin pathway alterations (colorectal, hepatocellular)

Preclinical

Phase 1

Phase 2

Phase 3

Approved

PBL-201

Target: ERG transcription factor inhibitor

Prostate cancer (TMPRSS2-ERG positive)

Preclinical

Phase 1

Phase 2

Phase 3

Approved

PBL-301

Target: Smoothened (SMO) non-classical binder

Basal cell carcinoma and other Hedgehog-driven tumors

Preclinical

Phase 1

Phase 2

Phase 3

Approved

Parabilis' $670M IPO Sets New Biotech Record, Will Fund Cancer Drug ↗

Parabilis Medicines raised $670 million in an industry-record IPO, the largest biotech public offering to date, with proceeds earmarked to advance its lead cancer program into the clinic.

Business & Strategy • Jun 10, 2026 • Endpoints News

'Going for Our Own Moonshot': Parabilis CEO on Biotech's Record IPO ↗

Parabilis Medicines CEO Mathai Mammen discusses the company's $670M IPO, the largest biotech public offering on record, and how the proceeds will fund the company's oncology pipeline targeting historically undruggable cancer targets.

Leadership Team

Dr. Mathai Mammen

President and Chief Executive Officer

Dr. Susan Bhatt

Chief Medical Officer

Dr. Kristina Håkansson

Chief Scientific Officer

Careers & Job Openings

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Multiple Departments

See careers page

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