Aktis Oncology Upsizes IPO to $945.4 Million with Eli Lilly Anchor Investment
Aktis Oncology, a Boston-based cancer drug developer, has announced an upsized IPO targeting a valuation of up to $945.4 million. Eli Lilly will anchor the offering with a $100 million investment, marking the first major U.S. biotech IPO of 2026 and signaling potential market recovery.
Insights:
Aktis Oncology , a Boston-based cancer drug developer, announced an upsized initial public offering (IPO) targeting a valuation of up to $945.4 million. The IPO, initially planned to offer 11.8 million shares, has been expanded to nearly 17.7 million shares priced between $16 and $18 per share. This move aims to raise up to $317.7 million.
Eli Lilly and Company , a major pharmaceutical entity, has committed to purchasing approximately $100 million worth of Aktis shares as an anchor investor. This significant investment underscores Eli Lilly's strategic interest in radiopharmaceutical innovation, following their 2024 partnership with Aktis to develop tumor-targeting radiopharmaceuticals. As part of that collaboration, Eli Lilly provided a $60 million upfront cash payment and an equity investment.
