Aktis Oncology Targets $945.4 Million Valuation in First Biotech IPO of 2026
Aktis Oncology aims for a $945.4 million valuation in its upsized IPO, marking the first U.S. biotech IPO of 2026. Eli Lilly anchors the offering with a $100 million investment, reflecting strong investor confidence.
Insights:
Aktis Oncology , a Boston-based biotechnology firm, announced its intention to target a valuation of up to $945.4 million in its initial public offering (IPO) on January 7, 2026. This IPO marks the first U.S. biotech offering of the year, highlighting renewed investor confidence in the sector following regulatory changes and funding constraints from the previous year. The offering has been upsized from an initial 11.8 million shares to 17.7 million shares, priced between $16 and $18 per share, aiming to raise as much as $317.7 million.
Eli Lilly and Company has committed to purchasing approximately $100 million worth of shares as an anchor investor, underscoring its confidence in the partnership established with Aktis in 2024. This collaboration focuses on developing tumor-targeting radiopharmaceuticals, with Eli Lilly having previously provided a $60 million upfront cash payment and an equity investment.
