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ICR Healthcare handled Boston-based cancer drug developer Aktis Oncology as it upsized its initial public offering due to robust investor demand.
Reuters noted the bullish demand for the company’s shares, which is the first public offering during the new year. Gross proceeds from the offering is about $320M.
Aktis is a clinical-stage oncology company focused on expanding the breakthrough potential of targeted radiopharmaceuticals to large patient populations, including those not addressed by existing platform technologies.
Eli Lilly, which bought about $100M of Aktis' shares anchored the IPO. Aktis has a strategic collaboration with Lilly to leverage its miniprotein platform to develop novel radioconjugates outside of Aktis’ proprietary pipeline.
ICR Healthcare’s Sean Leous worked the media for the IPO, while Peter Vozzo handled the investor community.
For more insight into healthcare communications, consult O'Dwyer's CPA-verifed rankings of the top healthcare PR firms.
As capital concentrates among established firms, emerging managers must find new ways to earn investor confidence.
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