Jan 5 (Reuters) – Aktis Oncology is seeking a valuation of as much as $840 million in its U.S. initial public offering, the biotechnology company backed by major sector investor MPM BioImpact revealed in a filing on Monday.
The IPO market stirred back to life last year as record-high levels and steady investor demand drew companies off the sidelines.
Expectations have since built for a stronger 2026, driven by pent-up demand and a pipeline of high-profile firms.
The Boston, Massachusetts-based company plans to sell about 11.8 million shares, priced between $16 and $18 apiece, and raise roughly $212 million at the top of the range.
The company said its net loss widened to $48.6 million, or $60.17 per share, for the nine months ended September 30, versus $31.9 million, or $46.36 per share, a year ago.
Aktis Oncology’s lead candidate, AKY-1189, is in an early-stage study to treat certain solid tumors, including a form of advanced bladder cancer, breast cancer and colorectal cancer. Preliminary data from the trial is expected in the first quarter of 2027.
The company said it posts steep losses because it has no approved products or product-based revenue, while its research and development spending remains substantial and is expected to rise.
Aktis has raised about $346 million from investors since its inception in 2020, including MPM BioImpact, Vida Ventures, EcoR1 Capital and Blue Owl Capital. It has also secured a $60 million upfront payment from Eli Lilly through a discovery partnership.
The company, co-founded by biotech investor Todd Foley, is aiming to list on the Nasdaq under the ‘AKTS’ ticker symbol.
J.P. Morgan, BofA Securities, Leerink Partners and TD Cowen are the lead underwriters.
MPM BioImpact is a biotechnology‑focused venture capital firm with over 400 investments in companies ranging from early‑stage startups to publicly traded drug developers.
(Reporting by Pragyan Kalita in Bengaluru; Editing by Sahal Muhammed)
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