Aktis Oncology filed for an IPO to raise capital for its miniprotein radiopharmaceutical pipeline, aiming to fund ongoing US phase 1b trials and further target expansion. The company highlighted prior strategic partnerships and investments from Eli Lilly, Merck’s MRL Ventures and Bristol Myers Squibb as validation of its technology for delivering alpha emitters to tumors. Aktis plans to use proceeds to advance its lead Nectin‑4 targeting asset (Ac‑AKY‑1189) and a B7‑H3 candidate, with early readouts expected to de‑risk clinical development. The IPO would test investor appetite for radiopharma names after a quiet 2025 biotech IPO market. Market watchers view Aktis as a bellwether for a potential 2026 biotech IPO rebound, especially for companies with Big Pharma backing and near‑term clinical catalysts.