Parabilis Medicines Prices Record-Breaking $670 Million IPO | PharmExec – Pharmaceutical Executive

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In today's Pharmaceutical Executive Daily, Parabilis Medicines prices a record-breaking $670 million IPO, Swedish biotech AlzeCure Pharma enters a collaboration and out-licensing agreement with Eli Lilly for its Alzheimer's candidate, and FDA approves an every-eight-week maintenance dosing regimen for Eli Lilly's Ebglyss.
Welcome to Pharmaceutical Executive Daily, your quick briefing on the top news shaping the pharmaceutical and life sciences industry.
In today's Pharmaceutical Executive Daily, Parabilis Medicines prices a record-breaking $670 million IPO, Swedish biotech AlzeCure Pharma enters a collaboration and out-licensing agreement with Eli Lilly for its Alzheimer's candidate, and FDA approves an every-eight-week maintenance dosing regimen for Eli Lilly's Ebglyss.
Parabilis Medicines priced its upsized initial public offering of 33.5 million shares at $20 per share, above the top of its range and the result of two separate upsizings in a single day, raising $670 million in gross proceeds in what is believed to be the largest IPO in the history of venture-backed biotechnology, surpassing Kailera Therapeutics' $625 million offering just two months ago. Parabilis, which trades on Nasdaq today under the ticker PBLS, also closed a concurrent private placement of approximately $75 million with Regeneron Pharmaceuticals at $18 per share, tied to a separate research collaboration, bringing total proceeds to approximately $745 million before expenses.
AlzeCure Pharma has entered a collaboration and out-licensing agreement with Eli Lilly granting Lilly global rights to ACD680, AlzeCure's lead Alzstatin platform candidate, a gamma-secretase modulator designed to reduce production of the harmful amyloid-beta 42 protein that forms the building blocks of amyloid plaques in Alzheimer's disease, while simultaneously increasing production of shorter, benign amyloid-beta variants that may further limit plaque aggregation. AlzeCure will receive a $10 million upfront payment, tiered mid-single digit royalties on sales, and development and commercial milestone payments that could bring total deal value, excluding royalties, to more than $1 billion.
Finally, FDA has approved an every-eight-week maintenance dosing regimen for Ebglyss, in adults and adolescents 12 years and older weighing at least 40 kilograms with moderate to severe atopic dermatitis, supported by longitudinal exposure-response modeling and 32-week clinical data from the Phase III ADjoin extension trial showing no new safety signals and no discontinuations due to adverse events. The new regimen follows a 500 milligram loading phase and 250 milligram every-two-week induction period, after which eligible patients can transition to once-every-eight-week maintenance.
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