Aktis Oncology filed for an initial public offering to finance its pipeline of miniprotein-based radiopharmaceuticals, including an Eli Lilly-partnered program. The Boston- and Durham-based company, backed by large pharma investors, plans to use proceeds to advance a Nectin-4–targeting program and take a second asset into phase 1b studies. The filing tests investor appetite for radiopharma equities after a slow IPO year in biotech. Aktis’ approach—alpha-emitter miniprotein conjugates with imaging-enabled patient selection—targets a growing interest in precision radiotherapeutics and companion diagnostic workflows.