Aktis Oncology, a clinical-stage biotechnology company pioneering the discovery and development of novel targeted alpha radiopharmaceuticals to treat a broad range of solid tumors, announced the successful closing of an oversubscribed and upsized $175 million Series B financing. The funding was led by RA Capital Management and co-led by RTW Investments and Janus Henderson Investors.
A select syndicate of additional new investors joined the financing, including funds and accounts advised by T. Rowe Price Associates, Avidity Partners, and an undisclosed life sciences-focused investment fund. All existing institutional investors participated, as did existing strategic investors Bristol Myers Squibb, Eli Lilly and Company, and MRL Ventures Fund, Merck’s therapeutics-focused corporate venture fund.
In connection with the financing, Andrew Levin, MD, PhD, Partner and Managing Director at RA Capital Management, will join the Aktis Oncology Board of Directors. Lauren Lee, PhD, from RTW Investments, and Vish Sridharan, MD, from Janus Henderson Investors, will join as Observers to the Board of Directors.
Aktis Oncology also announced that three abstracts, including one oral presentation, have been accepted for presentation at the upcoming EORTC-NCI-AACR Symposium on Molecular Targets and Cancer Therapeutics in Barcelona, Spain, October 23-25, 2024.
KEY QUOTES:
“The overwhelming support from high caliber investors underscores the progress we have made on our pipeline, platform, and supply chain capabilities, exemplified by the significant opportunity for AKY-1189, our first-in-class miniprotein alpha radioconjugate targeting Nectin-4 in development for several tumor types. With over $300 million in cash, we are well-positioned to prosecute several opportunities to expand the benefit of this exciting modality into new patient populations.”
- Matthew Roden, PhD, President and Chief Executive Officer of Aktis Oncology
“Aktis has leveraged its unique technology platform, experienced team, robust supply chain and radiopharmaceutical development capabilities to generate a promising and differentiated pipeline of next-generation radiopharmaceuticals. We are pleased to support Aktis through the next stage of its growth as it seeks to bring new options to patients with cancer.”
- Andrew Levin, MD, PhD, Partner and Managing Director at RA Capital Management
