Parabilis priced an upsized IPO at $20 per share, raising $670 million—setting a new record for venture-backed biopharma listings. The company sold 3.5 million shares in the offering and said proceeds would support its lead oncology program zolucatide and earlier-stage candidates emerging from its Helicon platform. In a concurrent private placement, Regeneron agreed to purchase additional shares at $18, further reinforcing big-pharma and biotech-catalyst interest in early-stage oncology platforms. Parabilis began trading on Nasdaq under PBLS and the offering follows a streak of large IPOs in 2026. The deal underscores how public markets are rewarding companies with clear clinical narratives and monetizable platform potential—especially when pairing with heavyweight strategic investors.