Aktis Oncology recently completed a series A extension financing round of $84 million, bringing the total capital raised by the company to date to $161 million.
The company is working on radiopharmaceutical therapies to treat solid tumors, using potent alpha radiation to destroy cancer cells. The company is developing a novel approach to selectively target and deeply penetrate tumors while also clearing the radiophamaceutical rapidly from the rest of the body to minimize harm to healthy tissue.
The extension funding round included participation from new healthcare investors Cowen Healthcare Investments, MRL Ventures Fund, the therapeutics-focused corporate venture fund of Merck, ArrowMark Partners, Mirae Asset Venture Investment, Bristol Myers Squibb, and Novartis were among the companies participating in the financing.
Aktis also said that in conjunction with the funding round, Kevin Raidy, managing partner at Cowen, and Jason Ruth, partner at MRL Ventures, will be joining Aktis' board of directors as observers.
