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Aktis Oncology IPO: Biotech Market Reopening and Impact
Aktis Oncology plans an upsized U.S. IPO, with Eli Lilly as a $100M anchor investor
What happened
Aktis Oncology is trying to price the first major U.S. IPO of 2026 with a bigger deal size than initially planned, and Eli Lilly stepping in as a major anchor investor. That combination is being read as a “biotech window might be reopening” signal.
Winners
IPO Gatekeepers
A larger IPO means bigger underwriting fees, more biotech deal flow optimism, and more trading activity for IPO venues if the window stays open.
Names: $JPM (JPMorgan Chase), $BAC (Bank of America), $TD (Toronto-Dominion Bank)…
The skinny
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