Parabilis Medicines raises record $670 million in biotech IPO

Parabilis Medicines priced its IPO at $20 per share on Tuesday, raising $670 million in the largest biotech IPO in history. The offering of 33.5 million shares trades on Nasdaq under PBLS. A concurrent private placement with Regeneron Pharmaceuticals adds $75 million, bringing total proceeds to nearly $745 million.