Sanofi halts rare disease trial as Parabilis launches record biotech IPO amid European pricing debate

Sanofi announced it is stopping a Phase 3 trial of its experimental drug riliprubart in a rare autoimmune disease after an interim analysis showed the treatment did not work.

The pause adds to recent challenges for the French company's research pipeline under new CEO Belén Garijo.

At the same time, Parabilis Medicines completed a $670 million initial public offering, the largest biotech IPO to date, surpassing the $625 million debut of obesity-focused Kailera Therapeutics earlier this year.

European regulators are currently at odds over drug pricing policies, creating uncertainty for manufacturers across the continent.

In Boston’s Kendall Square, demand for laboratory space appears to be stabilizing, offering optimism for biotech companies seeking new facilities.