Aktis bags $72M in Novartis, BMS-backed series A to unlock power of radiopharmaceuticals

Aktis Oncology has raised a $72 million series A round to develop radiopharmaceutical treatments for solid tumors. The MPM Capital-founded biotech received investment from Novartis and Bristol Myers Squibb.

Nuclear medicine began decades ago with the use of beta emitters such as radioactive iodine. Such drugs achieved some success but failed in microscopic and disseminated cancers, potentially because of their relatively long particle path length and low linear energy transfer. Those characteristics make beta emitters suited to larger, heterogeneous tumors but poor at mopping up residual disease.

The limitations of drugs such as radioactive iodine have spurred interest in alpha emitters, which have a short particle range and high linear energy transfer. The characteristics could make alpha emitters more effective in areas such as treating minimal residual disease and certain tumor types.

Aktis CEO Matthew Roden is a believer in the power of alpha-emitters. "Alpha radiotherapy is the future of radiopharmaceuticals," Roden said in a statement. "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.”

Massachusetts-based Aktis has created platforms to discover agents that hit well-validated targets, readily penetrate tumors and clear quickly from other parts of the body. The biotech plans to enable physicians to see whether the agents engage with their targets prior to the administration of therapeutic radioisotopes, thereby supporting the identification of the patients most likely to respond.

The idea attracted the interest of EcoR1 Capital and Arie Belldegrun’s Vida Ventures, which co-led the series A with MPM. Octagon Capital, TCG Crossover, Novartis and Bristol Myers also contributed to the financing round.

Brian Goodman, Ph.D., Patrick Baeuerle, Ph.D., and Todd Foley, all from MPM, founded Aktis. Goodman now works as head of operations and corporate development at Aktis. Roden, who left Bristol Myers in August to become an executive partner at MPM, is in the CEO position. The leadership team is rounded out by Paul Feldman, Ph.D., who joined Aktis as chief scientific officer after a stint heading up discovery and translational medicine at Intarcia Therapeutics.