Aktis Oncology, with Durham operations, files for IPO

Boston-based Aktis Oncology has filed to go public in the U.S., according to multiple news reports. The company has operations in Durham.

A radiopharmaceutical drug developer, Aktis made SEC filings on Monday for its U.S. initial public offering, which could value it at up to $840 million. The company intends to sell 11.775 million of its shares between $16 and $18 apiece, seeking to raise about $212 million and draw a valuation of as much as $840 million at the top of the range.

Aktis has developed proprietary platforms to generate tumor-targeting agents with ideal properties for alpha radiotherapy. The company’s lead program targets Nectin-4, a tumor-associated antigen found in urothelial and other cancers.

Designed for high tumor penetration and long residence time, Aktis’ molecules can quickly clear other areas of the body, maximizing tumor elimination while minimizing side effects of treatment, according to the company. This approach would enable clinicians to visualize and verify target engagement prior to exposure to therapeutic radioisotopes.

Though headquartered in Boston, Aktis has most of its operations in Durham, where it employs about two dozen people, according to a 2024 NCBiotech article. The company was founded in 2020 and is backed by $156 million in Series A venture capital. Pappas Capital of Durham is one of several investors in the company.