Aktis Oncology priced an upsized initial public offering that raised $318 million, marking biotech’s first major public debut of 2026. The Boston-based radiopharmaceutical developer sold 17.65 million shares at $18 apiece and counted a $100 million anchor purchase from Eli Lilly, underscoring industry appetite for targeted radioconjugates. Aktis will use proceeds to advance two clinical-stage miniprotein radioconjugates: Ac‑AKY‑1189 (Nectin‑4) and Ac‑AKY‑2519 (B7‑H3). The company said it expects Phase 1b readouts for AKY‑1189 in 2027 and plans clinical expansion for B7‑H3 tumors, highlighting imaging-guided patient selection as a commercial differentiator. Investors and partners that backed Aktis privately—including MPM BioImpact and RA Capital—contributed to the strong pricing and first-day trading bounce.