Parabilis Medicines targets over $400 million in Nasdaq IPO to fund peptide pipeline

Parabilis Medicines, a peptide-focused biotech led by former Johnson & Johnson R&D head Mathai Mammen, announced plans for a Nasdaq initial public offering.

The company aims to raise more than $400 million, with the filing indicating a target of about $413 million.

Proceeds are intended to support the development of its peptide pipeline, advancing candidates toward clinical trials.

The IPO reflects investor interest in peptide therapeutics and provides Parabilis with capital to expand its research and development efforts.