Atkis Oncology Secures $175M in Series B Funding
Aktis Oncology, a biotech firm focused on radiopharmaceuticals, has secured $175 million in funding following the close of a Series B funding round. The round was led by RA Capital Management with participation from RTW Investments and Janus Henderson Investors.
The company plans to use the funding to continue the development of new therapies.
“The overwhelming support from high caliber investors underscores the progress we have made on our pipeline, platform and supply chain capabilities, exemplified by the significant opportunity for AKY-1189, our first-in-class mini-protein alpha radioconjugate targeting Nectin-4 in development for several tumor types,” Matthew Roden, PhD, president and CEO of Aktis Oncology, said in a Sept. 30 announcement. “With over $300 million in cash, we are well-positioned to prosecute several opportunities to expand the benefit of this exciting modality into new patient populations.”
Atkis Oncology’s radiopharmaceutical technology offers precision targeting to deeply penetrate tumors. The precision targeting delivers alpha particles – which have 1000x the cancer-killing potency of beta particles – to the tumor, inducing double strand DNA breaks. With this approach, the company is overcoming the challenges of conventional cancer treatments – from chemotherapy to antibody drug conjugates.
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