Oncology biopharmaceutical company Parabilis Medicines has announced the successful closing of a $305 million Series F financing. 

The round was co-led by RA Capital Management, Fidelity Management & Research Company and Janus Henderson Investors, with participation from new investors including Frazier Life Sciences, Soleus Capital, and a life science-dedicated investment fund. 

The company says the financing will support the continued clinical development of FOG-001 (zolucatetide) – its lead investigational Helicon peptide and first and only direct inhibitor of the elusive β-catenin:TCF interaction – including progression toward a registrational trial in desmoid tumours and continued evaluation across a range of genetically simple and more complex tumour types.  

The financing will also support the progression of the company’s targeted discovery pipeline, including its promising prostate cancer franchise, and additional efforts to leverage the company’s Helicon platform to unlock disease targets previously considered “undruggable”. 

“Our goal at Parabilis is to develop medicines with the potential to deliver truly life-changing impact for patients who urgently need new treatment options,” said Mathai Mammen, Chairman, CEO and President of Parabilis Medicines. “We are deeply grateful for the support and confidence of our world-class investors, which will enable us to advance zolucatetide across a range of rare and common tumour types – creating the opportunity for a pipeline within a product – while continuing to build a unique and differentiated pipeline through our Helicon platform designed to address biology that has remained out of reach for decades.” 

Compelling data on zolucatetide

The financing follows presentations of compelling preliminary data in the fourth quarter of 2025 from Parabilis’s ongoing Phase I/II trial of zolucatetide, a first-in-class therapy targeting the key downstream node within the Wnt/β-catenin pathway. This pathway is implicated in millions of cancer cases annually yet remains unaddressed by any approved therapies. 

Early data demonstrated meaningful single-agent activity of zolucatetide across five low complexity tumour types driven by Wnt/β-catenin alterations – including desmoid tumours, an indication granted Fast Track Designation from the US Food & Drug Administration, and adamantinomatous craniopharyngioma (ACP).  

The findings also showed strong scientific rationale for combination approaches in more biologically complex cancers, including microsatellite-stable colorectal cancer (MSS CRC).

Diana Turner, Deputy Editor, DDW