Parabilis Medicines, formerly FogPharma, is a well-established clinical-level biopharma company passionate about developing effective peptide therapeutics known as Helicons. Helicon is like a weapon to protect undruggable cancer targets and fight all odds that disrupt focus. Parabilis is confident about its Helicon™ platform, which holds potential to access the intracellular targets that traditional drugs failed to access. With their lead candidate, FOG-001, and expanded pipeline takes the company’s vision is close to success.
Where most of the biopharma companies announced their fundraising internally or in an external deal, Parabilis also announced its $305 million fundraising in the series F round, where other biopharma companies are in the queue at different windows. The company gave a second thought to this decision. Anyway, Parabilis will be engaging its funds in zolucatetide too.
Parabilis seems to be analysing the possibilities and taking a chance. This takes courage and luck to do so. The company, with its equal expectation from each of its decisions, will either way bring development and new scope in the healthcare sector.
It’s a lead asset, an investigational peptide therapy used in the testing of solid and rare tumors. Zolucatetide stops the T cell and ß-catenin to interact. The presence of these two molecules is a major reason for a severe cancer cascade. Following this zolucatetide interruption disturbs their entrance. In a way, it’s a guard, a protector against the cancer cascade condition.
Parabilis, along with series F, is trying to take zolucatetide close to the counter of registrational study for the desmoid tumors for a ticket to achieve the next milestone. This fundraising of Parabilis was jointly managed by Janus Henderson Investors, Fidelity Management & Research Company, and RA Capital Management. Alongside the newly entered, Alveus Therapeutics came with $160 million to fund a series and Diagonal Therapeutics with $125 million in a series B round.
With the support of Johnson &Johnson, EpiBiologics managed to raise $107 million in Series B. Furthermore, Beacon Therapeutics completed its funding of $75 million on this Thursday in series C. Many healthcare leaders are locking their funds in different areas of drug development, clinical sites and more. This overwhelms the healthcare sector to the core.
None of the biotech and biopharma companies is behind in this fundraising race. This race is not a competition for a win to business but to life of many individuals seeking effective treatments.
Mansi Kadam is a market research writer with over 3 years of experience analyzing trends in the healthcare industry. At Towards Healthcare, she covers innovations in medical sector, sustainability initiatives, and the evolving regulatory landscape.
