Parabilis Medicines priced an upsized IPO intended to raise $670 million, setting the company up to fund a multi-asset cancer pipeline. The clinical-stage firm offered 33.3 million shares at $20 each and said the expanded offering reflects strong investor appetite after a revival in biotech public listings. The company’s lead asset, zolucatetide (FOG-001), is in clinical trials across solid tumors, and Parabilis plans to allocate IPO proceeds to develop the Wnt/β-catenin pathway inhibitor in desmoid tumors and continue early trials in other solid tumor settings. It also intends to advance additional degraders into the clinic. Parabilis was previously founded as Fog Pharmaceuticals by Harvard professor Greg Verdine and has raised more than $800 million across earlier rounds, with investor participation including ARCH Venture Partners, Fidelity, GV, and RA Capital. The IPO’s scale is notable for the public-market signaling it provides to late-stage and well-capitalized growth biotechs, especially as investors remain selective on cash runway and clinical readiness.