Radiopharmaceutical developer Aktis Oncology filed for an IPO in Hong Kong to raise capital for its miniprotein radioconjugate pipeline, flagging a partnership with Eli Lilly and prior investments from large pharmas. Aktis reported roughly $346 million raised in private financings and presented its first Nectin‑4‑targeted candidate in early clinical testing. The filing is being watched as an early test of investor appetite for biotech IPOs in 2026 and for radiopharma plays specifically, following heightened M&A and strategic partnering activity in the space.