fog pharma

What fog pharma does

Parabilis Medicines (Nasdaq: PBLS), formerly Fog Pharma, is a clinical-stage biopharmaceutical company founded in 2015 and headquartered in Cambridge, Massachusetts. The company develops stabilized helical peptides — branded as Helicons — engineered to penetrate cells and bind flat intracellular protein surfaces, addressing the approximately 80% of biologically validated disease targets considered historically undruggable by conventional small molecules and antibodies. Its lead product candidate, zolucatetide (formerly FOG-001), is the first drug to directly target the b-catenin:TCF interaction in the Wnt/b-catenin pathway and is currently in Phase 1/2 clinical trials for desmoid tumors and other solid tumors driven by Wnt/b-catenin pathway alterations. As of February 2026, the company has dosed over 150 patients and reported a 74% objective response rate (14/19 patients) and 100% disease control rate (25/25 evaluable patients) in the desmoid tumor cohort, with a Phase 3 registrational trial planned for H1 2027.

The company operates a vertically integrated R&D engine that combines AI- and physics-based computational modeling with mRNA display, high-throughput peptide synthesis, and experimental screening, all refined by a decade of proprietary datasets. Two preclinical programs (ERG and ARON) extend the platform into prostate cancer. Parabilis is pre-revenue, with no approved products, and intends to commercialize zolucatetide upon regulatory approval through specialty pharmacy and hospital formulary channels targeting oncologists and specialty physicians primarily in the United States. The company maintains a wholly-owned subsidiary in Shanghai, Parabilis Medicines (Shanghai) Ltd Co, and a domestic subsidiary, Parabilis Security Corporation.

In June 2026, Parabilis completed an upsized IPO on the Nasdaq Global Select Market, raising $770.5 million in gross proceeds at $20.00 per share, alongside a concurrent $75 million private placement to Regeneron Pharmaceuticals that deepened an existing strategic research collaboration. Total capital raised across 2026 exceeded $1.2 billion. The company is led by CEO, President and Chairman Mathai Mammen, M.D., Ph.D., with a board representing institutional investors including RA Capital and Deerfield Management.

Name

fog pharma

Legal name

Parabilis Medicines, Inc.

Website

https://fogpharma.com

Company type

Public

Founded year

2015

Operating status

Operating

Short description

Parabilis Medicines is a clinical-stage biopharmaceutical company developing Helicon peptide therapeutics to address historically undruggable cancer targets, with lead candidate zolucatetide in Phase 1/2 trials for Wnt/b-catenin-driven solid tumors.

Ownership category

akta.pro rank

Product category

Oncology Therapeutics

NAICS

Biological Product (except Diagnostic) Manufacturing (325414), Pharmaceutical and Medicine Manufacturing (3254), Research and Development in Biotechnology (except Nanobiotechnology) (541714)

SIC

Pharmaceutical Preparations (2834), Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Therapeutic Peptides & Protein/Peptide Biologics (HLAAAAAH)

akta.pro secondary industries

Target Identification & Validation Platforms (omics-driven, chemoproteomics, genetic validation) (HLAAAIAI), Cheminformatics & Molecular Modeling / CADD (HLAGAJAE)

Keywords

• Peptide therapeutics
• Oncology drug development
• Biopharmaceutical discovery
• Targeted protein degradation
• Clinical-stage therapeutics

Headquarters

HQ city

Cambridge

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Pipeline Drug Development and Commercialization: Pre-revenue clinical-stage company developing novel Helicon-based therapeutics. Currently has no approved products. Revenue will come from commercialization of drug candidates upon regulatory approval, initially focusing on zolucatetide for desmoid tumors and expanding to additional oncology indications.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Parabilis Medicines is a clinical-stage biopharmaceutical company developing peptide-based therapeutics built on its proprietary Helicon peptide platform. Its lead product candidate, zolucatetide, is the first drug designed to directly target the beta-catenin:TCF interaction in the Wnt/beta-catenin pathway and is being evaluated in Phase 1/2 clinical trials for desmoid tumors and other solid tumors. The company also maintains preclinical programs (ERG, ARON) targeting historically undruggable drivers of prostate cancer.

Product overview

Parabilis Medicines is a clinical-stage biopharmaceutical company developing medicines based on its proprietary Helicon platform. The core offering is zolucatetide (formerly FOG-001), the lead product candidate and first-in-industry Helicon therapeutic targeting the beta-catenin:TCF interaction. The company operates two key programs: the Helicon discovery platform (integrating AI and computational modeling) and its pipeline of Helicon-based product candidates. Preclinical programs include ERG and ARON targeting prostate cancer. The company completed its IPO in June 2026 and trades on Nasdaq under ticker PBLS.

Differentiator

Problem solved

Functional benefit

Brands

• Helicon: Ultra-tunable Helicon peptide platform technology - stabilized helical peptides engineered to bind and precisely modulate historically undruggable protein targets.
• Zolucatetide

Products and services

• Zolucatetide
• ERG Program
• ARON Program

Quantifiable outcome

• 74% objective response rate (ORR) in desmoid tumor patients with at least two post-baseline scans (14/19 patients per RECIST 1.1)
• +3 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature5 records

Partnerships

One partnership is on record.

• Regeneron Pharmaceuticals, Inc.majorStrategic or Co-development PartnerParabilis entered into a strategic research collaboration with Regeneron. In connection with the collaboration, Regeneron agreed to purchase approximately $75 million of shares in a concurrent private placement at the IPO. The relationship extends beyond capital investment into ongoing research collaboration activities.

Scale indicators10 records

Recent moves8 records

Expansion highlights12 records

Direct peers

• Arvinas: Arvinas is a clinical-stage biotech developing targeted protein degraders (PROTACs and related modalities) against historically undruggable oncology targets. It shares Parabilis's thesis of going after targets that small molecules cannot address and is at a similar clinical/commercial maturity stage.
• Bicycle Therapeutics: Bicycle Therapeutics develops bicyclic peptide therapeutics (a related peptide modality) targeting historically difficult intracellular and extracellular oncology targets. It is a directly comparable clinical-stage biotech using engineered constrained peptides to drug protein-protein interactions, with similar pipeline-stage profile.
• Relay Therapeutics: Relay Therapeutics is a clinical-stage precision oncology company using computational/motion-based drug design to target historically undruggable oncogenic drivers such as PI3Kα and KRAS. It shares Parabilis's integration of AI/computation with novel chemistry to address difficult oncology targets.
• Revolution Medicines: Revolution Medicines is a clinical-stage oncology biotech developing targeted therapies against difficult-to-drug RAS and other historically undruggable oncogenic drivers. It is a close peer given the shared focus on novel modalities tackling previously intractable targets in solid tumors.
• Tango Therapeutics: Tango Therapeutics is a clinical-stage precision oncology company developing synthetic lethality-based therapeutics. It is a directly comparable targeted-oncology biotech at a similar stage, sharing the thesis of exploiting cancer-specific vulnerabilities.

Emerging players

• Scholar Rock: Scholar Rock is a clinical-stage biotech developing biologics (including inhibitors of TGFβ and related growth factor pathways) for oncology and rare diseases. It is a relevant emerging peer targeting difficult signaling pathways with novel biologics modalities.
• Moderna: Moderna is a clinical-stage biotech whose mRNA platform intersects with Parabilis's use of mRNA display for peptide discovery. It is an emerging peer with overlapping protein engineering and computational biology capabilities, though its primary therapeutic focus is vaccines and gene therapy.
• Mirati Therapeutics (acquired by BMS): Mirati Therapeutics was a clinical-stage precision oncology biotech developing KRAS and other targeted oncology therapies before being acquired by Bristol-Myers Squibb. It represents a comparable targeted oncology company and an indicator of the strong M&A appetite in this space.

Broad incumbents

• Amgen (with several pipeline programs in Wnt signaling): Amgen is a major biopharmaceutical incumbent developing oncology biologics including Wnt-pathway and related targeted oncology programs. As a large established biopharma, it offers broader capabilities than Parabilis but overlaps in the targeted oncology space.
• Regeneron Pharmaceuticals: Regeneron is a major biopharma incumbent that has a strategic research collaboration and equity investment in Parabilis. While Regeneron operates across many therapeutic areas, its antibody and biologics capabilities and strategic interest in Parabilis make it a relevant comparable incumbent.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/parabilis-medicines

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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 fog pharma