RTW Biotech portfolio firm Aktis raises USD318 million in US IPO

(Alliance News) - RTW Biotech Opportunities Ltd on Monday said its portfolio company Aktis Oncology Inc has completed a USD318 million IPO on New York's Nasdaq, the first biotech listing of 2026.

The Guernsey-based investor in the life sciences sector said Aktis raised USD318 million by offering 17.7 million shares at USD18 each, a 13% uplift to RTW Biotech's last holding value at the end of November and an 18% step-up from the cost at the time of purchase in September.

Shares in Aktis began trading on the Nasdaq Global Select Market under the ticker AKTS on Friday and closed up 24% at USD22.40.

At the end of November, Aktis represented 0.6% of RTW Biotech Opportunities' net asset value.

Aktis is a clinical-stage oncology firm that is focused on developing targeted radiopharmaceuticals, including a programme that targets Nectin-4, a radioconjugate with "multiple tumour" potential.

"We are thrilled to have supported the first biotech IPO of the year, which marks a significant milestone for Aktis and for the field of targeted radiopharmaceuticals," said RTW Investments Chief Investment Officer Rod Wong.

"Aktis' rapid progress reflects the transformative potential we seek in our portfolio companies and underscores our commitment to identifying and supporting assets that drive meaningful advances in patient care."

Shares in RTW Biotech Opportunities were up 0.3% at USD2.25 on Monday morning in London.

By Michael Hennessey, Alliance News reporter

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