Radiopharmaceuticals company Aktis Oncology has filed for an initial public offering (IPO), marking the first biotech IPO filing in several months. The company submitted its filing on December 19, aiming to raise $100 million, though full details of the planned offering were not disclosed.
Aktis Oncology is developing targeted radiopharmaceutical therapies using its miniprotein radioconjugate platform. Its lead candidate, AKY-1189, entered a Phase Ib clinical trial called NECTINIUM-2 in May. This study targets Nectin-4 expressing solid tumors and includes patients with lung, colorectal, and cervical cancers. Initial results from this trial are expected in the first quarter of 2027.
The company is also preparing to submit an investigational new drug application for another candidate, AKY-2519, which will target B7-H3 expressing solid tumors.
In May 2024, Eli Lilly entered into a partnership with Aktis Oncology that included a $60 million upfront payment and up to $1.1 billion in potential milestone payments as they collaborate on discovering new radiopharmaceuticals.
Matthew Roden leads Aktis Oncology and also serves as an entrepreneur partner at MPM BioImpact.
The field of radiopharmaceuticals has seen significant interest from major pharmaceutical companies in recent years. Companies such as Sanofi, Novartis, AstraZeneca, and Bristol Myers Squibb have made notable investments in this area. Novartis stands out as a leader with two approved products: Lutathera and Pluvicto. Sales of Pluvicto reached $564 million in the third quarter of 2025—a year-over-year increase of 45 percent—demonstrating strong commercial performance by radiopharmaceutical treatments (https://www.biospace.com/article/novartis-pluvicto-heavywork-proves-radiopharma-can-succeed/).
While overall investment activity has slowed recently within the sector, analysts expect renewed interest due to successful examples like Novartis’ Pluvicto.
