Parabilis Medicines

What Parabilis Medicines does

Parabilis Medicines, Inc. (Nasdaq: PBLS) is a Cambridge, Massachusetts-based clinical-stage biopharmaceutical company developing stabilized alpha-helical peptide therapeutics, branded as Helicons™, to drug intracellular protein targets historically considered undruggable by small molecules or antibodies. Founded in 2015 as FogPharma by Professor Gregory Verdine, the company operates an integrated discovery engine that combines AI- and physics-based computational modeling (including a custom Helisite Finder algorithm and a proprietary ΔΔG prediction system trained on more than 300,000 Helicons), high-throughput peptide synthesis using more than 1,000 non-canonical amino acids and proprietary crosslinkers, and multiplexed mass spectrometry and radioactivity-free mRNA display screening. From this platform the company is advancing a clinical-stage lead, zolucatetide (FOG-001), the first and only direct inhibitor of the β-catenin:TCF interaction (in Phase 1/2 with registrational Phase 3 planned for desmoid tumors in H1 2027 and FDA Fast Track and Orphan Drug Designations in hand), plus preclinical Helicon-based degraders targeting β-catenin, ERG, and a non-ligand-binding-site androgen receptor program for prostate cancer.

The company's revenue model is currently capital-raising driven: Parabilis is pre-revenue with no approved products and generates no product sales, instead funding operations through a Series F of $305 million (January 2026), an upsized $770.5 million IPO (June 2026), and a $75 million concurrent private placement to Regeneron Pharmaceuticals. Near-term future revenue is structured around the May 2026 strategic research collaboration with Regeneron for Antibody-Helicon Conjugates (AHCs), which includes $50 million in upfront cash plus the $75 million equity commitment and up to approximately $2.2 billion in potential development milestones plus tiered royalties, with Regeneron responsible for development, manufacturing, and worldwide commercialization of partnered products. Long-term monetization is expected to combine retained commercial rights to zolucatetide and the proprietary Helicon pipeline with licensing royalties from partnerships, supported by a 101-250-employee organization and a leadership team drawn from Johnson & Johnson, Merck, Biogen, Bristol Myers Squibb, AstraZeneca, and Ipsen.

Name

Parabilis Medicines

Legal name

Parabilis Medicines, Inc.

Website

https://parabilismed.com

Company type

Public

Founded year

2015

Operating status

Ipo

Headcount range

101–250 employees

Short description

Parabilis Medicines is a clinical-stage biopharmaceutical company developing proprietary Helicon™ stabilized alpha-helical peptide therapeutics to drug intracellular targets historically considered undruggable, with a Phase 1/2 lead candidate (zolucatetide) and preclinical programs in oncology partnered with Regeneron.

Ownership category

akta.pro rank

Product category

Biopharmaceuticals

NAICS

Biological Product (except Diagnostic) Manufacturing (325414), Research and Development in Biotechnology (except Nanobiotechnology) (541714)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Therapeutic Peptides & Protein/Peptide Biologics (HLAAAAAH)

akta.pro secondary industry

mRNA Therapeutics (vaccines, protein replacement, immuno-oncology) (HLAAADAA)

Keywords

• Stabilized peptide therapeutics
• Targeted protein degraders
• Oncology drug development
• Intracellular protein targeting
• Biopharmaceutical discovery

Headquarters

HQ city

Cambridge

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales

Revenue model

1. Strategic collaboration / licensing royalties: Pre-revenue clinical-stage biotech. Future revenue expected from milestone payments and tiered royalties on net sales of products developed under strategic collaborations. The Regeneron partnership includes $125M upfront/equity and up to ~$2.2B in development milestones plus tiered royalties on future net sales. Regeneron is responsible for development, manufacturing and worldwide commercialization.
2. Future product sales (post-approval): No products are currently approved or generating revenue. Company is clinical-stage with lead candidate zolucatetide in Phase 1/2 and Phase 3 planning in desmoid tumors (1H 2027). Future revenue will come from commercialization of proprietary Helicon therapeutics.

Core offering

Parabilis Medicines is a clinical-stage biopharmaceutical company developing a portfolio of Helicon™ peptide therapeutics that engage historically undruggable intracellular protein targets. Its lead candidate zolucatetide (FOG-001) is the first and only direct inhibitor of the β-catenin:TCF interaction, currently in Phase 1/2 clinical development for desmoid tumors with a Phase 3 registrational trial planned for H1 2027. The company is also advancing preclinical Helicon-based degraders targeting β-catenin, ERG (prostate cancer), and the androgen receptor, alongside Antibody-Helicon Conjugate (AHC) candidates co-developed with Regeneron.

Product overview

Parabilis Medicines is a clinical-stage biopharmaceutical company with a single, integrated offering built around its proprietary Helicon™ peptide platform — a new modality of stabilized alpha-helical peptides designed to engage historically undruggable intracellular protein targets. The platform is supported by a tightly integrated discovery engine that combines AI/physics-based computational modeling, custom non-canonical amino acid chemistry, and high-throughput experimental screening across an internal library of more than 1,000 amino acids. From this platform, Parabilis is advancing a portfolio of named therapeutic programs: the lead clinical candidate Zolucatetide (FOG-001), a first-in-class direct β-catenin:TCF inhibitor currently in Phase 1/2 trials with a Phase 3 registrational trial planned in desmoid tumors; preclinical Helicon degraders targeting β-catenin, ERG (prostate cancer), and the androgen receptor (non-ligand binding site); and Antibody-Helicon Conjugates (AHCs) developed under the May 2026 strategic collaboration with Regeneron Pharmaceuticals. Together, the platform and its pipeline programs represent a unified approach to drugging the ~80% of biologically validated disease targets considered undruggable.

Differentiator

Problem solved

Functional benefit

Brands

• Helicon (Helicon™ peptide platform): Proprietary class of stabilized alpha-helical peptides (Helicon™) — the company's core therapeutic modality platform used to drug historically undruggable intracellular protein targets, combining the precision of antibodies and biologics with the intracellular access and tunability of small molecules.
• Antibody-Helicon Conjugates (AHCs)

Products and services

• Zolucatetide (FOG-001) An investigational first-in-class competitive inhibitor and the only direct inhibitor of β-catenin interactions with the TCF family of transcription factors. By directly targeting the β-catenin:TCF protein-protein interaction at the most downstream node in the Wnt pathway, it blocks Wnt signaling irrespective of the upstream mutations driving disease (including APC and β-catenin mutations). Currently in a Phase 1/2 clinical trial with a Phase 3 registrational trial planned in desmoid tumors.
• β-catenin Degrader (Helicon) A Helicon-based targeted protein degrader in the discovery stage that uses Helicon technology to bind soluble β-catenin and target it to the proteasome for degradation via a bifunctional degrader approach. Offers an alternative mechanistic approach to addressing the Wnt/β-catenin pathway beyond direct inhibition by zolucatetide; relevant to the approximately 80-90% of colorectal cancers caused by Wnt/β-catenin pathway mutations.
• ERG Degrader (Helicon) A Helicon-based targeted protein degrader for the ERG transcription factor implicated in approximately 40% of all prostate cancers via TMPRSS2-ERG chromosomal fusion. Binds a unique region of ERG and employs an E3 ligand to target ERG for proteasomal degradation without affecting structurally similar ETS-transcription factor family members; intended for castrate-resistant prostate cancer.
• Androgen Receptor (AR) Degrader — Non-Ligand Binding Site A Helicon-based androgen receptor degrader that binds at a site distinct from approved AR drugs, circumventing known resistance mutations. Targets the activated form of AR for degradation, providing a novel mechanism for metastatic castrate-resistant prostate cancer (CRPC) patients with AR amplifications and AR mutations; synergistic with the company's ERG degrader program.
• Antibody-Helicon Conjugates (AHCs)

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability7 records

Feature7 records

Recent moves7 records

Expansion highlights6 records

Emerging players

• Black Diamond Therapeutics: Clinical-stage precision oncology biotech developing allosteric small-molecule therapies against oncogenic mutations; comparable to Parabilis as a similarly sized clinical-stage platform oncology company pursuing differentiated mechanisms against difficult targets.
• Erasca: Clinical-stage precision oncology biotech developing therapies targeting the RAS/MAPK pathway; comparable to Parabilis as a clinical-stage biotech pursuing a defined oncology signaling pathway with a novel modality approach.
• Accent Therapeutics: Clinical-stage precision oncology biotech focused on RNA-modifying protein targets; comparable to Parabilis as an emerging clinical-stage platform oncology company attacking historically hard-to-drug targets with a novel modality.

Direct peers

• Kymera Therapeutics: Clinical-stage biotech pioneering targeted protein degradation with a focus on oncology and immunology; comparable to Parabilis as a peer clinical-stage platform company attacking intracellular protein targets with a novel modality (degraders vs. Helicons).
• Arvinas: Clinical-stage biotech developing PROTAC targeted protein degraders against historically undruggable oncology targets including androgen receptor and β-catenin—directly comparable to Parabilis's ERG, AR, and β-catenin degrader programs and the same modality-over-small-molecule thesis.
• Schrödinger: Computational drug discovery company using physics-based modeling and AI to enable novel therapeutics; comparable to Parabilis in its reliance on AI/physics-based design and proprietary ML to attack challenging targets, though Schrödinger has broader software revenue.
• Relay Therapeutics: Clinical-stage precision oncology company combining computational chemistry with experimental approaches to drug previously undruggable targets, including PI3Kα and others; directly comparable as a clinical-stage biotech pairing AI/computation with a novel modality against flat protein surfaces.
• Monte Rosa Therapeutics: Clinical-stage biotech developing molecular glue degraders to address undruggable targets in oncology and other diseases; closely comparable business model of a clinical-stage platform company using a novel degradation modality against intracellular targets.
• Foghorn Therapeutics: Clinical-stage oncology biotech developing medicines targeting the chromatin regulatory system using a proprietary platform; comparable to Parabilis as a similarly positioned clinical-stage platform company using novel chemistry to drug historically difficult oncology targets.

Broad incumbents

• Regeneron Pharmaceuticals: Large biopharmaceutical company and Parabilis's strategic partner in the AHC collaboration; serves both as a key validation/collaboration partner (with $125M upfront and up to ~$2.2B in milestones) and a broad incumbent in oncology and antibody-based therapeutics competing for the same therapeutic space.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/parabilis-medicines

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds8 records

Investors37 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Parabilis Medicines