Aktis Oncology Inc., a clinical-stage biotechnology company, raised $317.7 million in its initial public offering. The Boston-based firm is backed by Eli Lilly & Co.
The firm priced 17.65 million shares at $18 each. This price represented the top of its marketed range.
Eli Lilly previously expressed interest in purchasing approximately $100 million worth of shares, regulatory filings confirm. This highlights Lilly's strategic investments in the oncology sector, supporting external innovation to complement its internal research and development pipeline.