Aktis Oncology Announces $72M Series A Financing To Advance Breakthrough Radiopharmaceuticals To Treat Solid Tumors
CAMBRIDGE, Mass., March 18, 2021 /PRNewswire/ -- Aktis Oncology, a biotechnology company discovering and developing a novel class of targeted radiopharmaceuticals to treat a broad range of solid tumor cancers, today announced completion of a $72 million Series A financing. The company was founded and incubated by MPM Capital, which co-led the financing with EcoR1 Capital and Vida Ventures, with participation from Octagon Capital, TCG Crossover, Novartis and Bristol Myers Squibb.
"Aktis Oncology is building on recent successes in the radiopharmaceutical field, using a novel approach to extend the efficacy of targeted radiopharmaceuticals into a wide range of solid tumors," said Todd Foley, Chairman of Aktis Oncology, and Managing Director of MPM Capital. "We're incredibly excited by the science, the team and a world class syndicate of institutional and strategic investors that share in our vision to realize the potential of targeted radiotherapy to become a mainstream anti-cancer modality."
Aktis Oncology is developing novel alpha radiotherapies to improve upon the efficacy of conventional solid tumor therapies, while limiting toxicity. The company has developed proprietary platforms to discover best-in-class tumor targeting agents designed with optimal pharmacology for delivering alpha radiotherapy. Aktis Oncology targeting agents are highly tumor penetrant but clear from other areas of the body quickly, to maximize tumor elimination while minimizing potential side effects of treatment.
"Alpha radiotherapy is the future of radiopharmaceuticals," said Matthew Roden, PhD, President and Chief Executive Officer of Aktis Oncology. "By harnessing the power of alpha particles – with nearly 1000 times the potency of beta particles – we believe our approach has the potential to deliver game-changing results for patients."
Aktis Oncology's theranostic approach would also enable clinicians to visualize and verify target engagement prior to exposure to therapeutic radioisotopes, allowing for better selection of patients most likely to benefit from therapy. The company plans to produce multiple development candidates with potential for efficacy against well-validated cancer targets.
Aktis Oncology was founded by Brian Goodman, PhD, Patrick Baeuerle, PhD, and Todd Foley, of MPM Capital. The company is led by:
Aktis Oncology is headquartered in Cambridge, Mass. with laboratory operations in Research Triangle Park, NC.
About Aktis Oncology
Aktis Oncology is a biotechnology company pioneering the discovery and development of a new class of targeted radiopharmaceuticals to treat a broad range of solid tumor cancers. Founded and incubated by MPM Capital, the company has developed proprietary platforms to generate tumor targeting agents with ideal properties for alpha radiotherapy. Designed for high tumor penetration and long residence time, Aktis Oncology's molecules will quickly clear other areas of the body, thereby maximizing tumor elimination while minimizing side effects of treatment. This approach would also enable clinicians to visualize and verify target engagement prior to exposure to therapeutic radioisotopes. To learn more about Aktis Oncology, visit www.aktisoncology.com.
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SOURCE Aktis Oncology