Aktis Oncology Secures $318M IPO to Advance Next-Generation Radiopharmaceuticals
Boston, MA – January 9, 2026 – Aktis Oncology, a clinical-stage biotechnology company pioneering targeted alpha radiopharmaceuticals, has successfully completed an upsized initial public offering (IPO), raising $318 million. This notable influx of capital will fuel the development of its innovative pipeline aimed at broadening the reach of radiopharmaceutical therapy to address a wider range of solid tumor cancers [[1]], [[2]], [[3]].
Addressing the Limitations of Current radiopharmaceuticals
While radiopharmaceuticals offer a powerful approach to cancer treatment, their application has been limited by the targeting capabilities of the molecules used to deliver radiation to tumors. Conventional methods rely on antibodies, which struggle to penetrate tumors due to their size, and peptides, which may lack the reach to effectively target certain cancers.
Aktis Oncology is disrupting this landscape with its proprietary “miniprotein” technology. These miniproteins strike a balance between size and targeting precision, offering improved tumor penetration, internalization, and retention of the therapeutic radiation. As Aktis explains, ”The small size of miniproteins allows them to rapidly penetrate tumors…Moreover, our miniprotein radioconjugates are able to internalize into cancer cells, which we believe drives prolonged retention.”
Pipeline Highlights: AKY-1189 & AKY-2519
Aktis’s lead candidate, AKY-1189, is currently in Phase 1b testing for urothelial cancers and other solid tumors expressing Nectin-4 - a target already addressed by Pfizer and Astellas Pharma’s blockbuster ADC, Padcev. Aktis differentiates itself by planning to utilize imaging radioisotopes to identify patients most likely to respond to AKY-1189, possibly expanding its application to cancers like breast and lung cancer. Preliminary data from the dose-escalation study is anticipated in Q1 2027.
The company’s second program, AKY-2519, targets B7-H3, a protein highly expressed in various solid tumors, including prostate cancer. This represents a potential expansion beyond current radiopharmaceutical targets like PSMA (targeted by Novartis’s Pluvicto). Aktis plans to submit an Investigational New Drug (IND) application for AKY-2519 in the first half of 2026.
Strategic Collaboration with Eli Lilly
Aktis has established a strategic collaboration with Eli Lilly, initiated in 2024, to leverage its technology in discovering radiopharmaceuticals for undisclosed cancer targets. Lilly will assume development responsibilities once programs reach the clinical stage,following an initial $60 million upfront payment and equity investment.Aktis is eligible to recieve up to $1.2 billion in additional milestone payments.
Strong Financial Backing & Experienced Leadership
Founded in 2020 and incubated by MPM Capital, Aktis Oncology has secured a total of $345.5 million in funding, including a recent $175 million Series B round in 2024. MPM Capital remains the largest shareholder (17.4%), followed by Vida Ventures (9.5%). The company’s shares will trade on the Nasdaq under the ticker symbol “AKTS.”
Disclaimer: This article is based on publicly available information as of January 9, 2026, and is intended for informational purposes only.
