Parabilis Medicines sets biotech record with $670m IPO

Parabilis Medicines raised $670m in the largest biotech IPO ever, offering 33.5 million shares at $20 each. The Massachusetts-based cancer therapy company listed on Nasdaq under ticker PBLS. Parabilis develops Helicon peptides, with lead drug zolucatetide showing tumor reductions in 100% of desmoid tumor patients.