Parabilis Medicines

Parabilis Medicines, formerly known as FogPharma, is a clinical-stage biopharmaceutical company developing a class of stabilized alpha-helical peptides it calls Helicons. The company states these molecules can bind and modulate intracellular proteins that present flat protein-protein interaction surfaces and have historically been inaccessible to both small molecules and biologics; it cites an estimate that roughly 80% of biologically validated disease targets are considered undruggable for these reasons.

The lead program is zolucatetide (previously FOG-001), described as the first and only direct competitive inhibitor of the interaction between beta-catenin and the TCF family of transcription factors, the key downstream node of the Wnt/beta-catenin signaling pathway. The company positions the candidate to block Wnt signaling irrespective of the underlying driver mutation (including APC and beta-catenin) across common and rare solid tumors such as desmoid tumors, familial adenomatous polyposis, colorectal cancer, hepatocellular carcinoma and gastric cancer. Zolucatetide is in Phase 1/2 testing (NCT05919264) in locally advanced or metastatic cancer, and received FDA Fast Track Designation for desmoid tumors. Preclinical discovery-stage programs include a beta-catenin degrader, an ERG degrader targeting fusion proteins in prostate cancer, and an androgen receptor degrader that engages the receptor outside the androgen-binding site.

The company is headed by Mathai Mammen, M.D., Ph.D. (Chairman, CEO and President), previously global head of R&D and executive committee member at Johnson & Johnson; the source states he has led the discovery or development of 19 approved medicines. Other leadership includes CMO Fawzi Benzaghou, CFO Thomas Kotarakos, Chief Business and Strategy Officer Helen Ho, and scientific co-founder John McGee (EVP, Head of Platform). Board members include Alexis Borisy (lead independent director), Rick Klausner, Krishna Yeshwant (GV), Barbara Weber, Edward Fitzgerald, Jake Simson (RA Capital Management) and Alan M. Sebulsky.

Founding story

Parabilis was founded in 2015 on technology licensed from the laboratory of Greg Verdine, Ph.D., at Harvard University, and subsequently built the Helicon discovery platform for engineering stabilized helical peptides [7].

Business model

Biopharmaceutical research and development: the company advances its own pipeline of Helicon peptide drug candidates and also licenses/partners its platform, as with a research collaboration with Regeneron Pharmaceuticals on Antibody-Helicon Conjugates. It has funded operations through successive private venture and crossover financings and, as of June 2026, public equity markets.

No product revenue is described in the sources; the company is clinical-stage and funded by equity financings, with a research collaboration with Regeneron accompanied by a $75 million private placement.

Traction

Lead candidate zolucatetide is in a Phase 1/2 trial (NCT05919264) in locally advanced or metastatic cancer, with early positive results reported and FDA Fast Track Designation granted for desmoid tumors. The company reports having raised over $800 million since founding and completed a $670 million IPO plus a $75 million private placement in June 2026. It reported second quarter 2026 financial results in August 2026.

Latest developments

January 2026: $305 million Series F led by RA Capital Management, Fidelity Management & Research Company and Janus Henderson Investors, with new investors Frazier Life Sciences and Soleus Capital, intended to advance zolucatetide into Phase 3. June 2026: upsized IPO of 33.5 million shares at $20 per share raising $670 million gross, plus a $75 million Regeneron private placement at $18 per share tied to an Antibody-Helicon Conjugate collaboration; Nasdaq listing under "PBLS." August 13, 2026: second quarter 2026 financial results and business update.